Using the QTIP election to maximize generation-skipping transfers. (qualified terminable interest property): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1995. The length of the article is 1012 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The generation-skipping transfer tax (GSTT) problems that a large estate may incur in using the qualified terminable interest property (QTIP) election can be minimized by using a reverse QTIP election. The estate planner should maximize use of the unlimited marital deduction, the unified credit and any GSTT exemptions. A regular QTIP trust that holds all assets to the surviving spouse for life with the remainder to the children will be subject to GSTT when the assets pass to the children. By allowing the executor of the first spouse to elect the reverse QTIP, the GSTT exemptions available to both spouses can be used.

Citation Details
Title: Using the QTIP election to maximize generation-skipping transfers. (qualified terminable interest property)
Author: Raymond G. Russolillo
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1995
Publisher: American Institute of CPA's
Volume: 26 Issue: n4 Page: 214(2)

Distributed by Thomson Gale