Key Takeaways
- QTIP trusts provide for a surviving spouse while ensuring the first spouse controls ultimate disposition to children from prior marriages.
- Installment sales to intentionally defective grantor trusts (IDGTs) freeze business values for estate tax while providing retirement income.
- Charitable Remainder Trusts sell appreciated real estate tax-free, generate income, and provide immediate charitable deductions.
- FLPs with life insurance equalization can treat active and inactive children fairly without forcing a business sale.
- Charitable Lead Trusts transfer appreciation to family members at discounted values while supporting charitable purposes.
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Test Your Knowledge
1.What is the primary advantage of a QTIP trust in a blended family?
2.How does a Charitable Remainder Trust avoid capital gains tax on appreciated real estate?
3.What is an intentionally defective grantor trust (IDGT)?