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WILLS AND TRUSTS NEWS ARTICLES
Estate Planning Asset Protection New York Wills Attorney New York Power Of Attorney Types of Trusts Living Trusts
Glossary Terms:
QTIP Trust - A marital trust for which a federal estate tax election is made. It provides that the surviving spouse is entitled to all of the income from the trust property, to be paid at least annually.
Adverse Party - Anyone having a substantial beneficial interest in the trust that would be adversely affected by the exercise/non-exercise of their power with respect to the trust.
Corpus - The principal or funds of a trust, as distinguished from the income of a trust.
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