Definition of "QTIP"
  1. Qualified terminable interest property: a type of property interest that meets certain conditions under federal tax law
How to use "QTIP" in a sentence
  1. The will allowed the surviving spouse to use the QTIP during their lifetime.
  2. The estate plan was strategically designed to make good use of QTIP strategies for reducing estate tax liabilities.
  3. The lawyer suggested using a QTIP trust to ensure that assets would ultimately pass to the children from the deceased's previous marriage.

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