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<h1>Section 4: Deemed Assets in Wealth Tax for Spouse and Minor Children Explained, Excluding Pre-1990 Transfers.</h1> In wealth tax law, Section 4 addresses deemed assets for individuals. It includes assets transferred without adequate consideration to a spouse, minor child (excluding minors with disabilities or married daughters), or others for the benefit of the individual or their spouse. Transfers to a son's wife after June 1, 1973, or to others for her benefit, are also included. These provisions apply to assets held on the valuation date, whether in their original form or not. Transfers before 1990 are not covered in this section.