Section 118.013 - Taxable estate adjustment for Oregon special marital property; rules(1) As used in this section and ORS 118.016, "permissible distributee" has the meaning given that term in ORS 130.010.(2) Oregon special marital property consists of any trust or other property interest, or a portion of a trust or property interest:(a) In which principal or income may be accumulated or distributed to or for the benefit of only the surviving spouse of the decedent during the lifetime of the surviving spouse;(b) In which a person may not transfer or exercise a power to appoint any part of the trust or other property interest to a person other than the surviving spouse during the lifetime of the surviving spouse; and(c) For which the executor of the estate of the decedent has made the election described in ORS 118.016(1).(3) If a trust or other property interest would qualify as Oregon special marital property under subsection (2) of this section except that the trust or other property interest allows principal or income to be distributed to other persons in addition to the surviving spouse, the executor may elect to set aside a share of the trust or other property interest as a separate share of the trust or property interest or as a separate trust, which shall qualify as Oregon special marital property if:(a) The executor makes the election described in ORS 118.016(1);(b) Each permissible distributee makes the election described in ORS 118.016(2);(c) The surviving spouse makes the election described in ORS 118.016(2); and(d) All statements of election are attached to the estate tax return filed with respect to the estate of the decedent, or are filed or maintained as records as otherwise prescribed by the Department of Revenue by rule. 2005 c. 124, § 2; 2011 c. 526, § 4