Granting Superpowers to Commute a QTIP Trust
Although the QTIP trust can be beneficial, it can come at a significant tax cost. This is because the assets remaining in the ...
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QTIP Trusts: Definition, How They Work, and Advantages
Investopedia / Michela Buttignol What Is a Qualified Terminable Interest Property (QTIP) Trust? A qualified terminable interest property (QTIP) trust is a legal document that protects an ...
Case: Decedent’s QTIP Trust, Settlement in Taxable Estate Properly Included in Tax (2d. Cir.)
The Tax Court properly included both the unreduced assets of a QTIP trust and the full amount of a settlement payment in the decedent’s taxable estate, held the U.S. Court ...
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The Power of QTIP Trusts for Your Blended Family
In these scenarios, a qualified terminable interest property (QTIP) trust can be an effective tool to protect both the surviving spouse and the interests of children. When properly used ...
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What kinds of trusts are there?
Qualified terminable interest property trusts: If you're part of a family in which there have been divorces, remarriages, and stepchildren, you may want to direct your assets to particular ...
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Understanding IRS Private Letter Ruling 202504006: Crucial Takeaways for Tax Planning
The Internal Revenue Service (IRS) recently issued Private Letter Ruling (PLR) 202504006, addressing several important estate and gift tax ...