What’s a QTIP Trust and Why Would You Want One? Here are 7 Reasons
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 [...]
If You Can Elect Portability, Why Do Marital Estate Tax Planning?
You probably don’t have a federally taxable estate since you can give away $12.06 million (in 2022) tax free. And if you’re married, when you die, your spouse can elect to inherit [...]
Portability Permits Doubling the Estate Tax Exemption for Surviving Spouses
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 [...]
