Massachusetts General Laws ch. 190B sec. 2-704 – Taxes on QTIPS
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Section 2–704. [Taxes on QTIPS.]
Terms Used In Massachusetts General Laws ch. 190B sec. 2-704
- Decedent: A deceased person.
- Donor: The person who makes a gift.
- Probate: Proving a will
- Testator: A male person who leaves a will at death.
A direction in a will or instrument of trust to pay taxes caused by, resulting from, or imposed by reason of the death of the testator or donor, as the case may be, out of the decedent‘s probate estate or trust estate or other property, shall not include, unless the will or instrument of trust or a provision of such tax laws specifically provides otherwise, taxes levied or assessed under the tax laws of the United States or of the commonwealth or of any foreign state or commonwealth on any qualified terminable interest property in which the decedent had a qualifying income interest for life.