MLchartDataset catalogue

Qualified terminable interest property (QTIP) trust

Term · Law · MLC-T-LAW-004070

A type of trust that allows a grantor to provide for a surviving spouse while retaining control over the ultimate disposition of the trust assets after the spouse's death. The surviving spouse receives income from the trust for life, but the principal passes to beneficiaries designated by the grantor. This trust qualifies for the marital deduction for estate tax purposes.

Table 1. Record
IdentifierMLC-T-LAW-004070
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004070",
  "term": "Qualified terminable interest property (QTIP) trust",
  "field": "Law",
  "definition": "A type of trust that allows a grantor to provide for a surviving spouse while retaining control over the ultimate disposition of the trust assets after the spouse's death. The surviving spouse receives income from the trust for life, but the principal passes to beneficiaries designated by the grantor. This trust qualifies for the marital deduction for estate tax purposes.",
  "url": "https://mlchart.com/terminology/law/qualified-terminable-interest-property-qtip-trust/"
}

Record 4,117 of 5,439 in Law terminology (MLC-0107). Request the full dataset.