Glossary of Terms beginning with M

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.

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.

A bequest to a charity is considered “matured” when the gift is actually received by the charity.

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.

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.

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.

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. 

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.

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