QTIP trust
Should my spouse and I consider setting up a QTIP trust? Why? A QTIP trust is a marital deduction trust that limits the surviving spouse's access to and control of the trust property. QTIP, or Qualified Terminable Interest Property, is property
 cost for such control is that the trust requires the services of a professional or highly sophisticated executor who will make the QTIP election on time and in consideration of all the tax and estate planning circumstances existing at the time of the death. A mistake or missed deadline could cost the estate thousands of dollars and lose the marital deduction for the estate.Gloria Cole, Attorney, private practice, Weston, MA |
