family law

QTIP trust

Definition

An abbreviation for qualified terminable interest property trust. See qualified terminable interest property trust.

Illustrative caselaw

See, e.g. Wells Fargo Bank New Mexico, N.A. v. United States, 319 F.3d 1222 (10th Cir. 2003).

See...

Qualified domestic trust

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 deduction...

Qualified indorsement (endorsement)

Definition

An indorsement — the placement of a signature on the back of a negotiable instrument — coupled with an additional phrase, e.g. "without recourse" or "for deposit only," limiting the liability of the indorser (signer) in the event the...

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 Trust (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 most...

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...

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...

Separation agreement

Voluntary agreement between spouses, made during divorce proceedings or formal separation, that may govern issues such as property division, alimony, maintenance, child support, and child custody.

shared custody

Shared custody refers to the joint exercise of rights, privileges, and responsibilities by divorced or separated parents with regards to their child or children. Shared legal custody does not equate to joint physical custody. See also: joint...

Sole custody

Sole custody is an arrangement where - after the separation or divorce of a minor child’s parents - only one parent has physical custody and/or legal custody. Physical custody determines who lives with and cares for the child. Legal custody...

Pages