Definitions for "QTIP Trust"
A special trust designed for the benefit of a surviving spouse under the requirements of the Internal Revenue Code that permit the assets transferred to that trust to escape death taxes on the death of the first spouse to die.
a form of marital deduction and is designed to qualify for the unlimited estate tax marital deduction
a similar irrevocable trust, except that estate tax is levied when the trust is paid out rather than when it is created and funded
Keywords:  mainstay, planning, estate
an estate planning mainstay