Terms Used In Maine Revised Statutes Title 36 Sec. 4064-A

• Contemplation of death: The expectation of death that provides the primary motive to make a gift.
• Decedent: A deceased person.
• federal credit: means the maximum credit against the tax on the federal taxable estate for state death taxes determined under the Code, Section 2011 as of December 31, 2002 exclusive of the reduction of the maximum credit contained in the Code, Section 2011(b)(2); the period of limitations under the Code, Section 2011(c); and the termination provision contained in the Code, Section 2011(f). See Maine Revised Statutes Title 36 Sec. 4062
• Federal gross estate: means the gross estate of a decedent as determined by the assessor in accordance with the Code, except that, notwithstanding the Code, Section 2035, the value of the gross estate includes the value of all taxable gifts as defined under the Code, Section 2503(a) made by the decedent during the 1-year period ending on the date of the decedent's death, but does not include the value of taxable gifts made prior to January 1, 2008. See Maine Revised Statutes Title 36 Sec. 4062
• Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Nonresident: means a natural person domiciled in a jurisdiction other than this State at the time of that person's death. See Maine Revised Statutes Title 36 Sec. 4062
• Personal property: All property that is not real property.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Resident: means a natural person domiciled in this State at the time of that person's death. See Maine Revised Statutes Title 36 Sec. 4062
• Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
• Transfer: includes the passing of property or any interest therein, in possession or enjoyment, present or future, by inheritance, descent, devise, succession, bequest, grant, deed, bargain sale, gift or appointment in the manner described in this chapter. See Maine Revised Statutes Title 36 Sec. 4062
• value: means , with respect to an estate or to property included in an estate, including Maine qualified terminable interest property, the value as determined by the assessor in accordance with the Code. See Maine Revised Statutes Title 36 Sec. 4062
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72