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Trust Glossary

Q-TIP Trust - A trust:
  • Made by a married grantor during life or in the will or living trust of a decedent married at death
  • Established for the benefit of his/her then current or surviving U.S.-citizen spouse
    • Is the recipient of the donor's or decedent's Q-TIP marital deduction gift and distributes, at least annually, all trust income to the then current or surviving spouse for life.

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The content in this glossary is general in nature and is intended for informational purposes only. It is not intended to provide specific advice or recommendations for any individual or organization, because the facts and circumstances surrounding each situation differ. Please consult your attorney, tax advisor or other professional advisor for advice on your particular situation.

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