So, what’s a QTIP trust? “QTIP” stands for qualified terminable interest property, total legal gobbeldygook, right? So forget the words. What it means is a trust that you leave [...]
You probably don’t have a federally taxable estate since you can give away $11.7 million (in 2021) tax free. And if you’re married, when you die, your spouse can elect to inherit your [...]
In 2012, Congress instituted portability under which the surviving spouse may add the unused portion of a deceased spouse’s unified credit to her own unified credit. Here’s how it works: Let’s [...]