QTIP trusts often allow the testator to have it all by having peace of mind that their surviving spouse will be cared for during their lifetime at the same time as passing assets to heirs of their choosing after the surviving spouse’s death. In this episode of the PFP Section podcast, Paul Hood, JD, LLM, dives into planning for the surviving spouse. He discusses:

The pros and cons of using a QTIP trust
The difference between a gift tax and estate tax QTIP election
Conflicts of interest that can arise between income and principal beneficiaries
Alternatives to using QTIP trusts

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access more on planning for surviving spouses in Guide to Financial & Estate Planning, updated in 2022.
Listen to part one in Paul’s surviving spouse planning series.

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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Surviving spouse planning using QTIP trusts {PFP Section}

AICPA Personal Financial Planning (PFP)