Which statement about a QTIP election can be considered true?

Which statement about a QTIP election can be considered true?

• A. Must elect for all assets in the trust.
• B. Can elect for less than all assets in the trust.
• C. Cannot retain any control of the trust after formation.
• D. Election may be made only at death.

Answer: (B)

A QTIP election gives a decedent the chance to qualify some property for the marital deduction by treating that property as Qualified Terminable Interest Property, which means the surviving spouse has a qualifying life income interest. Importantly, you don’t have to apply this to every asset. You can elect for less than all assets that are QTIP-eligible, allocating the marital deduction to only the portion you choose. This flexibility lets you shape how much property provides for the surviving spouse while the rest passes under the planned terms to other beneficiaries or outright, depending on the trust. The election is made on the decedent’s estate tax return and is irrevocable, binding the tax treatment of those specific assets.

A QTIP election gives a decedent the chance to qualify some property for the marital deduction by treating that property as Qualified Terminable Interest Property, which means the surviving spouse has a qualifying life income interest. Importantly, you don’t have to apply this to every asset. You can elect for less than all assets that are QTIP-eligible, allocating the marital deduction to only the portion you choose. This flexibility lets you shape how much property provides for the surviving spouse while the rest passes under the planned terms to other beneficiaries or outright, depending on the trust. The election is made on the decedent’s estate tax return and is irrevocable, binding the tax treatment of those specific assets.