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QTIP |
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This is because the QTIP is the partner, not the surviving spouse, and a trust cannot die. In a QTIP a decedent passes to the surviving spouse a "qualifying income interest for life. The QTIP trust is often used in a second marriage situation, but this trust also is chosen by an IRA owner who is concerned about the spouse's ability to manage the funds or the likelihood that the spouse will remarry and leave the benefits elsewhere. |
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