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Noun

terminable interest - an interest in property that terminates under specific conditions

stake, interest - (law) a right or legal share of something; a financial involvement with something; "they have interests all over the world"; "a stake in the company's future"

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References in periodicals archive

Allocation of assets, as between a credit shelter trust and a qualified terminable interest property (QTIP) trust, is often based on formulas.

Estate Planning after the Tax Cuts and Jobs Act: Opening the Dialogue

An exception to the rule that terminable interests do not qualify for the marital deduction is qualified terminable interest property (QTIP).

Practitioners should know about the marital deduction and how to use different types of trusts in estate planning

However, if qualifying for the marital deduction or a reverse qualified terminable interest property (QTIP) election would require a QTIP, qualified domestic trust (QDOT), or reverse QTIP election, those taxpayers will have to request relief under Regs.

IRS notice permits recalculation of marital deductions for same-sex couples

2010(c)(5)(A), may influence the decision whether to make a qualified terminable interest property (QTIP) election under Sec.

Estate elections: guidance on QTIP & portability elections

Indeed, a qualified terminable interest property (QTIP) trust may offer benefits to married couples.

QTIP trusts still offer advantages

As another option, a Qualified Terminable Interest Property trust can enable a grantor to provide for a surviving spouse and maintain control of how the assets of the trust are distributed once the surviving spouse has also died.

Business succession planning best done from day one

In some states, the qualified terminable interest property trust, which is available under federal law, is also available under state law.

Taxed ... to death: clients need to be aware of the links between state and federal estate taxes