This document discusses the implications of electing QTIP treatment for a trust in the context of estate planning, particularly focusing on the potential tax consequences and the availability of portability. It examines the issues faced by John's executor in deciding whether to elect full or partial QTIP treatment for a $9 million trust left to Abby, considering both federal and New York state tax implications. The document references IRS regulations and Revenue Procedure 2001-38 to explore scenarios where portability might not be available if excess QTIP treatment is elected.
doj/DataSet10/EFTA01448420.pdf
{"title":"Analysis of QTIP Election and Portability in Estate Planning","key_people":["John","Abby"],"document_date":"2013","document_type":"legal","key_locations":["New York","Florida"],"document_subtype":"legal analysis","key_organizations":["IRS"],"reference_numbers":["T.D. 9596 77 FR 36150-36163","Revenue Procedure 2001-38"]}