Qualified Terminable Interest Property Trust

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Qualified Terminable Interest Property Trust (Q-TIP)

A trust that allows a surviving spouse to receive income generated from the trust, while the actual distribution of the trust's assets is made to other beneficiaries such as the grantor's children.

Qualified Terminable Interest Property Trust

A trust into which the trustor deposits funds and other assets to provide for a surviving spouse while also maintaining control of what happens to those assets after the surviving spouse dies. In a Q-TIP, the trustor names his/her surviving spouse as beneficiary and provides that income and/or principal from the trust shall pass to that spouse upon the trustor's death. However, when the surviving spouse also dies, what remains in the trust is distributed to heirs as if it had been a part of the trustor's estate. A Q-TIP is a common trust when a person has children from a previous marriage; that Q-TIP provides for the surviving spouse but later is transferred to children from one's first marriage to ensure that the estate takes care of them as well.
References in periodicals archive ?
But I was offered it and I'd put some music to one side as The Q-Tips didn't want to do it.
The Q-Tips went their separate ways at the end of 1982 and Paul signed as a solo artist with CBS/SONY Records.
org/content/experts-update-best-practices-diagnosis-and-treatment-earwax-cerumen-impaction-important) new guidelines in Otolaryngology6Head and Neck Surgery,  in which Scientists say you should put down the q-tip and leave ear wax where it belongs--in your ear.
Born in Luton in 1956, Young was formerly the front man of short-lived bands Kat Kool & The Kool Cats, Streetband and Q-Tips, before his solo success turned him into a 1980s teen idol.
An old toothbrush or even Q-tips dipped in gun solvent are very good at this small but vital clean-up.
Q-tips sources paper for its sticks and packaging from sustainable forests; Suave launched its 'Turn off the Tap' campaign, encouraging consumers to change their shower behavior to save energy and water.
She told the BBC that Jacob was able to create maps all over our floor using Q-tips, asserting that they would be maps of places they visited and he would memorize every street.
Until then, you'll need a decent set of dedicated gunsmithing screwdrivers (a handle with bits works well), a small soft-face hammer (brass or plastic face so it doesn't mar), good cleaning gear, some of those carpet sample squares work well for the bench top, a good pin punch set, a good set of smooth-face parallel pliers, a plastic bench block with holes so you can knock pins out easily, an assortment of surgeon's hemostat-type clamps (amazingly useful), plenty of Q-Tips, some good gun grease, oil and solvent, and I like to use those red mechanics shop rages you can buy at the box stores (but paper towels are handy too).
With Q-tips and saline in hand, I went back out to the kennel, swabbed his eye and flooded it with the saline.
seller of thimbles, bubble wrap, q-tips, toilet paper, anything
They conducted urethral pressure profilometry, the Q-tips test, a cystometrogram, Pelvic Organ Prolapse Quantification, and a vaginal closure force test for each of the 335 participants.
Everything: Q-Tips, the stickers on store-bought apples, lightbulbs, coffee cups even a computer.