What is QUALIFIED DOMESTIC INTEREST TRUST (Q-DOT TRUST)?

Known as a QTIP or a qualified terminal interest policy. This is trust that allows a citizen who is not a native US citizen to inherit money from a spouse who is a citizen of the US. There is no tax obligations that are immediately payable.

More On This Topic
  1. Domestic Violence Laws
  2. What Is A Domestic Partnership, And What Does It Mean For You?
  3. How To File An Irrevocable Trust With The IRS
  4. How To Make An Irrevocable Trust
  5. How To Avoid Probate
  6. Three Tell-tale Signs of a Breach of Trust
  7. Understanding the 4 Types of Notes Payable To Banks
  8. The Best Way to Create a Living Trust
  9. How Family Trusts Work
  10. What Are IRS Imputed Interest Rules?

Related Legal Terms
QUALIFIED DOMESTIC TRUST, QUALIFIED TERMINABLE INTEREST PROPERTY TRUST (Q-TIP TRUST), QUALIFIED DOMESTIC RELATIONS ORDER (QDRO), QUALIFIED WIDOW OR WIDOWER, QUALIFYING TERMINAL INTEREST PROPERTY, NON-QUALIFIED DEFERRED COMPENSATION (NQDC), COLLATERAL TRUST BOND, REMAINDER INTEREST, ASSET PROTECTION TRUST (APT), ACCRUED INTEREST


Link to This Definition
Did you find this definition of QUALIFIED DOMESTIC INTEREST TRUST (Q-DOT TRUST) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary