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Glossary · trusts

QTIP trust

Acronym: QTIP

In plain English

Qualified Terminable Interest Property trust — gives a surviving spouse income for life but preserves principal for your chosen heirs.

Common in blended-family planning: your surviving spouse is taken care of for life, but you (not they) control who ultimately inherits the principal. Assets qualify for the unlimited marital deduction if the trust is structured correctly.

Educational information only. Mister AMS is not a law firm and does not give legal, tax, or financial advice. For your situation, consult a licensed professional admitted in your state.