Which Is an Example of a Qualified Terminable Interest Property

question 20

Multiple Choice

Which is an example of a Qualified Terminable Interest Property (QTIP) property?

• A)A life insurance policy with a one-time lump sum payment to the surviving spouse
• B)An automobile
• C)A homestead
• D)A trust with a life interest to the surviving spouse and remainder to the children

---

Definitions:

Acculturation

The process of adopting the cultural traits or social patterns of another group, often as a result of prolonged contact.

Mediation

A form of conflict resolution where a neutral third party assists the disputing parties in reaching a consensus or settlement.

Nepotism

Favoritism granted to relatives or friends, especially in a work context, where they are given preferential treatment or opportunities.

Early Retirement Incentive Plans

Early Retirement Incentive Plans are programs offered by employers to encourage employees to voluntarily retire before their normal retirement age, often with enhanced benefits.