A QTIP trust is made for marriagesDALLAS McKINNON
Though state and federal laws and regulations can change thankfully QTIP trust requirements basically stay the same. Essentially, you have to have a large estate where the bulk of that estate is put into the trust. The grantor must be a U.S. citizen, married and qualify for the married de...
In addition to a marital trust, a family member may set up apersonal trustand formally name themselves as thebeneficiary. A personal trust can accomplish a variety of objectives for one person or many. For example, it can fund education expenses, meet the special needs of heirs, or allow t...
Another common trust is called a credit shelter trust, which is also referred to as a bypass orfamily trust. This type of trust is used for the purpose of transferring assets to lower estate taxes. As the trust is being developed, the creator will put a provision in their will that leave...
You might use a QTIP trust to make sure that, if you passed away, your spouse wouldn’t be “kicked out” of the house where you’d been living together. When your spouse passed away after however many years, that’s when your child would be able to inherit the house. Spendthrift ...
Though state and federal laws and regulations can change thankfully QTIP trust requirements basically stay the same. Essentially, you have to have a large estate where the bulk of that estate is put into the trust. The grantor must be a U.S. citizen, married and qualify for the married de...