What’s a QTIP? No, it’s not the fuzzy thing people used to clean out ear wax. QTIP stands for “qualified terminable interest property” and is a tax law term of art. A QTIP works to allow a person to transfer property in trust while enjoying some tax benefits and reducing tension between a spouse and children from another marriage, while minimizing the tax consequences.
My law firm, Johnson Law KC LLC, can guide you and your family through the QTIP process. If we can serve you or your family on your QTIP needs, please call (913.707.9220) or email us (firstname.lastname@example.org) to schedule a free, convenient consultation.
(c) 2015, Stephen M. Johnson, Esq.