 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.
Talk to our New York proWills and Trusts Lawyers for these above topic details.
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