An example of when a marital trust might be used is when a couple has children from a previous marriage and wants to pass allpropertyto the surviving spouse upon death, but also provide for their individual children. Should the surviving spouse remarry, a deceased spouse's assets will then ...
A QTIP trust, short for Qualified Terminable Interest Property trust, is a type of trust that allows a person to provide for their spouse while still maintaining control over how their assets are distributed after both of their deaths. The trust creator can specify how they want the trust ass...
Does anyone know when it is best to use one over the other? Byvisionary— On Jan 25, 2011 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...
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 ...
If a grantee obtains title insurance, what value, if any, is there in the covenant of seizen in a warranty deed?Insurance:Insurance is the protection of an individual from financial losses. It refers to the legal agreement among the insured and the...
Does anyone know when it is best to use one over the other? Byvisionary— On Jan 25, 2011 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...