A trust that gives the individual establishing the trust the ability to direct income from the trust to his or her spouse over the spouse's life,and then,at the spouse's death,to choose to whom the assets go is called a

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A Q-TIP (Qualified Terminal Interest Property) trust allows an individual to direct income from the trust to his or her spouse over the spouse's life, and then choose who the assets go to after the spouse's death. This type of trust is often used when an individual has children from a previous marriage and wants to ensure that those children receive assets after the spouse's death.

A Trust That Gives the Individual Establishing the Trust the Ability