QTIP trust is an abbreviation for qualified terminable interest property trust. Terminable property interests are interests that will terminate after a period of time or on a contingency, such as life estates, terms for years, annuities,...
family law
qualified domestic trust
A qualified domestic trust (QDOT) is a trust created for a surviving spouse who is a non-U.S. citizen to qualify for the marital deduction. It allows a non-U.S. citizen married to a U.S. citizen to be eligible for an unlimited marital...
qualified indorsement (endorsement)
Qualified indorsement (or endorsement) is an indorsement that passes title to a negotiable instrument with certain restrictions. It is an indorsement coupled with an additional phrase, e.g. "without recourse," thereby limiting the liability...
qualified medical child support order (QMCSO)
A qualified medical child support order (QMCSO) is an order made by a court or state administrative agency that an alternate beneficiary, such as a participant's child or stepchild, is entitled to be covered by the participant's group health...
qualified terminable interest property (QTIP) trust
Qualified terminable interest trusts (QTIP trusts) are an estate planning tool used to maximize a couple’s applicable exclusion amounts while qualifying for the marital deduction. Full property interest transfers to spouses do not trigger...
quasi-community property
Quasi-community property is the property spouses acquired when they were not domiciled in a community property state. Community property states (i.e. Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin...
right of disposition
Right of disposition, in mortuary law, is the right of family or friends to make decisions on the funeral, burial, cremation, or other methods of final disposition of the deceased. The order of the right of disposition varies depending on the...
right to privacy
Overview:
There is a long and evolving history regarding the right to privacy in the United States. In the context of American jurisprudence, the Supreme Court first recognized the “right to privacy” in Griswold v. Connecticut (1965). Before...
secondary right of disposition
In mortuary law, the secondary right of disposition refers to the right of the state or local government to control the disposition of a corpse where no next of kin can be found according to statute. Typically when someone passes, the next of...
separate property
Separate property is property that is owned by one spouse and not the other. There are two categories of marital property; community property, and separate property. Community property is when spouses share all property equally. However, even...