Strategies for Using a Qualified Personal Residence Trust (QPRT)

A Qualified Personal Residence Trust, or QPRT, is one of the most powerful estate planning tools available for high net worth families who want to transfer a primary home or vacation property to heirs at a dramatically reduced gift tax cost. In this presentation, I explain exactly how a QPRT works, how the IRS values the transfer, and why this strategy can remove millions of dollars from a taxable estate while still allowing the owner to live in the residence for years. You will learn how the retained-interest term works, what happens if the grantor dies during the trust period, how rent payments after the term can further reduce the taxable estate, and the strict IRS rules that must be followed to keep the tax benefits intact. If you own a highly appreciated home and expect future appreciation, a QPRT may be one of the most effective long-term wealth transfer strategies available. Learn more: https://www.cummings.law/strategies-for-using-a-qualified-personal-residence-trust-qprt/