Qualified Funeral Trust


Also found in: Acronyms.

Qualified Funeral Trust

A trust constituted exclusively to pay for the funeral expenses of beneficiaries. In order to qualify for favorable tax treatment by the IRS, contributions made to the trust may not exceed certain limits per beneficiary and the trust must be the result of a contract with a funeral director or the equivalent.
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References in periodicals archive ?
26] Qualified funeral trusts may file Form 1041-QFT only if they have applied for and received QFT status.
27] The number of qualified funeral trusts included on a single return is entered on line 4 of Part I of Form 1041-QFT.
770-14( b), certain state law trusts, pooled income funds, cemetery perpetual care funds, qualified funeral trusts, etc.

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