Daniel's will provides that all of his property passes to a trust, life estate to his wife, remainder to charity. If Daniel's executor makes a QTIP election, the use of the alternate valuation date is not possible.

Question

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By making a QTIP (Qualified Terminable Interest Property) election, the executor makes sure that the property is eligible for the marital deduction and the surviving spouse receives income from the trust. However, the use of the alternate valuation date is not allowed when a QTIP election is made, as it would conflict with the purpose of the election.

Daniel's Will Provides That All of His Property Passes to a Trust