Qualified Terminable Interest Property Trust (QTIP Trust)

 

Qualified Terminable Interest Property Trust (QTIP Trust): A type of trust that allows the Grantor of the trust to provide for a surviving spouse. It also helps the Grantor to maintain control of how the trust assets are distributed after the death of the surviving spouse. Income, and sometimes principal, is generated from the trust assets and given to the surviving spouse to ensure he or she is provided for until death.

 

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