Which of the following are characteristics of a QTIP trust?

Question

Quizplus · Accepted Answer

A QTIP (Qualified Terminable Interest Property) trust has several key characteristics: (A) The trust agreement dictates the distribution of assets, not the surviving spouse, ensuring the grantor's wishes are followed after their death. (B) Assets transferred into the trust can qualify for the marital deduction, provided the surviving spouse receives income from the trust at least annually, which helps in deferring estate taxes until the death of the surviving spouse. (C) For assets to qualify for the marital deduction, they must be included in the estate of the surviving spouse upon their death, which subjects them to estate taxes at that time.

Which of the Following Are Characteristics of a QTIP Trust