QTIPs And Testamentary CRTs
Qualified terminable interest property trusts (QTIPs) continue to be an important tool in the estate-planning world both because of the growth of blended families and the high divorce rates in the United States, primarily with the Baby Boomer generation.
Most planners understand the importance of QTIPs for blended families; however, they’re often overlooked as a solution for individuals who wish to support charities in their estate plans. Charities are no different from other beneficiaries who want to be certain that they’ll one day receive their bequest instead of worry whether the surviving spouse will remove them if only the first-to-die spouse had the affinity with the charity.
The QTIP increases the odds the charity will receive the bequest, which is irrevocable at the death of the grantor…Read more |