qualified terminable interest property. property in a decedent's estate that, even though the surviving spouse's interest is subject to certain restrictions, can still qualify for the estate tax marital deduction (also includes property given to a spouse during life that qualifies for the gift tax marital deduction)
Qualified Terminable Interest Property. A trust that delays estate taxes until your surviving spouse dies so more income will be available to provide for your spouse during his/her lifetime. You can also keep control over who will receive these assets after your spouse dies.
Qualified terminable interest property. Terminable interest property qualifies for the marital deduction if the spouse is given the right to all income - paid at least annually - for life, and no one has the right to appoint the property to a person other than the spouse during the spouse's life. The donor or executor must elect to qualify the property for the marital deduction.
QUALIFIED TERMINABLE INTEREST PROPERTY. Property in which the surviving spouse has a lifetime interest but which qualifies for the marital deduction.
Qualified Terminable Interest Property. Property left to a surviving spouse that, if several requirements are met, qualifies for the federal estate tax marital deduction even though it is technically a terminable interest.
Qualified Terminable Interest Property. Property qualifying for the marital deduction at the election of the donor or the decedent's personal representative. The spouse retains a qualified income interest in the property for life, with the income payable at least annually. The corpus ultimately passes to a specified remainderman, under a special power of appointment given to the spouse