QTIP Trust Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of QTIP Trust, written in plain English, along with examples of how it is used.
What is QTIP Trust?
A trust that provides a person’s spouse with income for life that is free of estate tax. The trust’s assets pass to the beneficiaries designated by the trust’s creator when the spouse dies. When the beneficiaries receive the assets, estate taxes are applied.