A qualified terminable interest property trust (QTIP) limits a surviving spouse’s access to, and control of, the trust property.\u00a0Its main objective is to enable your spouse to use your assets and at the same time you\u2019ll determine the distribution of those assets. Under a QTIP trust, the spouse has direct access to any income from the trust assets for the remainder of his\/her life, but the trust’s principal is actually left to someone else, usually one\u2019s children.<\/span><\/span><\/p>\n \n A QTIP trust can offer many benefits to your family, especially if you are in a second marriage and you want to protect your assets for your children. You should consider the following provisions before making a decision:<\/span><\/span><\/p>\n \n \u2022 Giving your spouse the ability to change trustees. It may be difficult for your spouse to deal with the trustee you have chosen, so you may want to give him\/her the opportunity to appoint another individual. (more…)<\/span><\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":" A qualified terminable interest property trust (QTIP) limits a surviving spouse’s access to, and control of, the trust property.\u00a0Its main objective is to enable your spouse to use your assets and at the same time you\u2019ll determine the distribution of…<\/span><\/p>\n