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.

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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


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