QTIP TRUST
\kjˈuːtˈɪp tɹˈʌst], \kjˈuːtˈɪp tɹˈʌst], \k_j_ˈuː_t_ˈɪ_p t_ɹ_ˈʌ_s_t]\
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A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.
By Oddity Software
