Living trust - Estate Planning - Revocable living trust - Void Probate - living trust documents - Legal forms
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To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
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Qualified terminable interest Property trust
If you're part of a family where there have been divorces, reMarriages and stepchildren, you may want to direct your assets to particular relatives through a qualified terminable interest Property (QTIP) trust. Your surviving spouse will receive income from the trust, and the beneficiaries you specify (e.g., your children from a first Marriage) will get the principal or remainder after your spouse dies. People typically use QTIP trusts to ensure that a fair portion of their wealth ultimately passes to their own children and not someone else's.
Money in a QTIP trust, unlike that in a bypass trust, is treated as part of the surviving spouse's estate and may be subject to estate tax. That's why you should create a bypass trust first, which shelters assets up to the estate-tax exemption, and then if you have assets left over you can put it in a QTIP.
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Return to all Living Trust legal information
Legal Articles about Living Trust
Living Trust Frequently Asked Questions
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Springing Durable Power of Attorney for Property and Finance (Upon Disability or Incompetence) |
$ 20.98 |
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Real Estate Transactions - Limited Nondurable Power of Attorney by Seller |
$ 18.98 |
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Real Estate Transactions - Limited Nondurable Power of Attorney by Buyer |
$ 18.98 |
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Real Estate Transactions - Limited Nondurable Power of Attorney by Buyer |
$ 10.99 |
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Real Estate Transactions - Limited Nondurable Power of Attorney by Seller |
$ 10.99 |
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Total: $80.92
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