Estate Planning Acronyms
Acronyms can be intimidating and confusing – here is a helpful guide
Estate Planning Acronyms
- CLT – Charitable Lead Trust
- CRT – Charitable Remainder Trust
- DIY – Do It Yourself
- DPOA – Durable Power of Attorney
- FLP – Family Limited Partnership
- GRAT – Grantor Retained Annuity Trust
- GRIT – Grantor Retained Income Trust
- GRUT – Grantor Retained Unitrust
- HIPAA – Health Insurance Portability and Accountability Act
- ILIT – Irrevocable Life Insurance Trust
- IRA – Individual Retirement Account
- JTWROS – Joint Tenancy With Right of Survivorship
- POA – Power of Attorney
- POD – Pay on Death
- QDOT – Qualified Domestic Trust
- QPRT – Qualified Personal Residence Trust
- QTIP – Qualified Terminal Interest Property
- RLT – Revocable Living Trust
- SCINS – Self Cancelling Installment Notes
- SNT – Special Needs Trust – Supplemental Needs Trust
- SSD – Social Security Disability Insurance
- SSI – Supplemental Security Income
- TC – Tenants in Common
- TOD – Transfer on Death
- TPP – Tangible Personal Property
- UGMA – Uniform Gift to Minors Act
- UTMA – Uniform Transfer to Minors Act