| Qualified Personal Residence Trust |
| A qualified personal residence trust (also known as a QPRT or just a PRT) is an irrevocable trust into which the grantor transfers his primary residence. The idea is that the grantor retains use of the home for a specific number of years at which time the beneficiary owns the home. This trust can be used by a person who has a substantial estate and wants to reduce or eliminate federal estate taxes. This trust can be used by a married couple in addition to their marital trust if they have exceeded their combined unified transfer credit. As with other irrevocable trusts, this trust provides tax benefits immediate and subsequent while allowing continued use during life for a number of years. |
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| Estate Planning & Asset Protection |
| Learn on this site how to do good estate planning and good asset protection. Learn also how to coordinate your business planning with your estate planning. |
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