Provide for your spouse, then your kids, with a QTIP trust

Description

Abstract: Some people may want to provide for their spouse after their death but ensure that their children ultimately receive the inheritance they want to provide for them. Or they may have concerns about transferring assets to their spouse outright. Or they might also want to minimize gift and estate taxes. A great option to consider is a qualified terminable interest property, or “QTIP,” trust. This article explains how a QTIP can achieve estate planning goals while offering tax advantages.