A plain-language definition, not a conclusion about a document or case. Read the term in its full legal context.
Plain-English meaning
Qualified Terminal Interest Property Trust
A trust designed to provide a qualifying surviving spouse interest while controlling where remaining property passes later, subject to tax-law requirements.
Why the term matters
A QTIP election and trust terms can affect marital-deduction treatment, income rights, later estate inclusion, and remainder beneficiaries.
Do not confuse it with
It is not simply any trust for a spouse; technical distribution, election, and administration rules must be satisfied.