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Glossary of Terms beginning with M
- Mailbox Rule
A gift using the U.S. Postal Service for delivery is credited as of the date the gift is post-marked. FEDEX/UPS do not benefit from the same rules.
- Marital Deduction
The unlimited marital deduction is available for outright transfers to one’s spouse or transfers to certain types of trusts for one’s spouse. Special marital deduction rules apply with respect to transfers to a noncitizen spouse. The marital deduction is available under both the gift tax and the estate tax chapters of the Internal Revenue Code.
- Matured Bequest
A bequest to a charity is considered “matured” when the gift is actually received by the charity.
- Matured Charitable Remainder Trust
A charitable remainder trust is matured when trust assets are finally delivered to the charitable institution after the death of the last income beneficiary or the end of the trust term.
- Mean Gift Value
The mean gift value is used to determine gift value on a publicly traded stock and is the average of the high and low prices on the date of gift.
The value that divides any given data distribution into two equal parts.
- Memo of Understanding (MOU)
An agreement signed by all parties that define, in detail, the terms of a gift. It needs to include, total $ commitment, payment structure, purpose, and recognition.
- Mortgage Real Estate
Real estate backed my liens on property to ensure the repayment of a loan. Typically makes it a bad asset to consider gifting. Charitable deduction equal to basis in the property.
- Municipal Bond
Dept obligation of a state or local government entity. The funds may support general government needs or special projects. Likely they will be tax free.
- Mutual Fund
A fund that pools money of shareholders and invests in a group of securities, often constructed around an index, of which each shareholder owns a portion. There are multiples more mutual funds than there are individual securities