Lifetime Qualified Terminable Interest Property Trust A lifetime qualified terminable interest property (QTIP) trust is an irrevocable trust created by one spouse (who usually has more money and property) for the benefit of the beneficiary spouse. The spouse can...
Adding a payable-on-death (POD) or transfer-on-death (TOD) designation to an account allows the assets (money and property) in that account to be passed to a named beneficiary when the original account holder dies. Like trusts, POD and TOD accounts bypass probate....
Gaps in an estate plan can lead to conflict among surviving family members. Estate plans tend to focus on big-ticket items like houses, cars, bank accounts, and investments. But deciding who is entitled to personal momentos – especially valuable ones-can be an...
