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Estate planning may involve a will, trusts, beneficiary designations, powers of appointment, property ownership (for example, joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gifts, and powers of attorney (specifically a durable financial power of attorney and a durable medical power of attorney).
QTIP trust is a type of trust and an estate planning tool used in the United States. "QTIP" is short for "Qualified Terminable Interest Property." A QTIP trust is often used in order to take advantage of the marital deduction and still control the ultimate distribution of the assets at the death of the surviving spouse.
Trusts are a helpful estate planning tool for avoiding probate, financially providing for minor children, and managing assets for individuals who cannot do so themselves. Power of attorney .
Today, Trusts & Estates publishes articles contributed by practitioners in the fields of estate planning and taxation, fiduciary professionals, family offices, insurance, investments, philanthropy, retirement benefits and valuations. According to trustsandestates.com, articles are generally peer-reviewed by an editorial advisory board.
From power of attorney to wills and trusts — here's how to prepare for end-of-life care and estate taxes.
For many couples, a joint revocable trust is a valuable estate planning tool. They can be easier to manage than separate trusts and administration costs may be lower.
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