Formula Clause

Some articles on formula clause:

Trust Law - Inter Vivos Trusts in The United States
... estate tax is levied) by setting up the trust with a formula clause ... A formula clause takes advantage of the unlimited spousal deduction allowed under the internal revenue code ... The amount is set by the formula clause, not strict dollar amounts, because the unified credit increases over time ...

Famous quotes containing the words clause and/or formula:

    Long ago I added to the true old adage of “What is everybody’s business is nobody’s business,” another clause which, I think, more than any other principle has served to influence my actions in life. That is, What is nobody’s business is my business.
    Clara Barton (1821–1912)

    So, if we must give a general formula applicable to all kinds of soul, we must describe it as the first actuality [entelechy] of a natural organized body.
    Aristotle (384–323 B.C.)