Qualified Terminable Interest Property Trust

(redirected from Q-Tip)
Also found in: Dictionary, Wikipedia.
Related to Q-Tip: wack, Mos Def

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 ?
Summary: For the past 15 years, Jake Shuman had a dream: bring to market an innovative, reusable alternative to Q-Tip.
And last year they delivered the monster hit Go, featuring Q-Tip and music video by the acclaimed director Michel Gondry.
One group received no treatment, and the others received daily applications (5 days/week for 17 weeks) of Dermabase, Dermavan, Eucerin, Vanicream, a custom-blend, or water (active control) applied with a Q-tip. The custom blend cream, prepared at the researchers' request by Johnson & Johnson (Skillman, NJ), contained purified water, propylene glycol, stearyl alcohol, cetyl alcohol, polysorbate 20, isopropyl myristate, C12-15 alkyl benzoate, benzoic acid, glycerin, and sodium hydroxide.
Taylor co-founded A Tribe Called Quest in 1985 with his classmates Q-Tip and Ali Shaheed Muhammad.
After a party-starting DJ turn from Q-Tip on Thursday, a fierce-as-ever JoJo made us swoon.
As ever from a band who worked with Noel Gallagher and Tim Burgess in the 90s, their choice of collaborators is impeccable, with Beck, St Vincent, Cate Le Bon and rapper Q-Tip making contributions here.
You know things have got pretty safe when pop acts like Macklemore and Iggy Azalea get Grammy nominations for Best Rap Album and when the latter's apparent lack of cultural awareness leads Q-Tip to school her via Twitter on the origins of hip hop.
Dre and Q-Tip are rumoured to be a part of Apple's curation team.
Q-tip pressure pain test evaluated vulvar reactivity and Kegel manoeuvre assessed the tonicity of pelvic floor muscles.
With an advanced search engine, this reputable wholesaler also has everyday essentials for bath and personal care; deeply discounted name brands such as Gillette razors, Head and Shoulders shampoo and conditioner, as well as the Q-tip brand—all at wholesale prices.