An important estate planning tool available for married couples is a qualified terminable interest property (QTIP) trust. A QTIP trust is an irrevocable trust that offers a way to maximize tax advantages and minimize risk. These trusts can protect the interests of a surviving spouse while at the same time ensuring that if that spouse dies, the trust assets go to beneficiaries that the trust's creator, or grantor.
In this way, a qualified terminable interest trust benefits both spouses and helps to ensure that their interests are protected. If you've been considering this type of estate planning tool, the team of trust lawyers at Hunter Sargent, PLLC, can help you plan a personalized QTIP trust in Denton, Texas.