Teresa Bush, JD., InterActive Legal
A television show in the early 2000's had a frequently-used bit where a popular guy would introduce his somewhat shy friend to women at the neighborhood bar with the quick line “Have you met Ted?” It’s likely that the women otherwise never would have had the opportunity to meet Ted, as he was a bit of a wallflower. I feel the same way about the Clayton QTIP.
Before joining InterActive Legal (ILS) in 2007, I practiced estate planning law for sixteen years, and I never once drafted a document using a Clayton QTIP. Nor, to my knowledge, did any of the attorneys with whom I practiced. Honestly, we didn’t pay much attention to the Clayton decision back then. Only when I began working with ILS documents did I learn what a great option the Clayton QTIP can be for flexibility in estate planning, as an alternative – or in addition to – a disclaimer plan. Had I not started working with ILS, I probably never would have taken the opportunity to understand this planning tool.