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Qualified Personal Residence Trusts Explained


Transfer a house to beneficiaries at a reduced gift tax cost and remove an asset expected to appreciate in value from an estate.

A qualified personal residence trust (QPRT) is an estate-planning vehicle that allows a homeowner to transfer his home to a trust, while retaining the right to live in it for a term of years.

This technique allows the individual to transfer the house to beneficiaries with a reduced gift tax cost and, should the benefactor live long enough, remove the value from his estate.

Though these trusts are now a little less popular than they once were, given the high estate and gift tax exemptions, many older clients may have put one in place years ago, so advisors of all stripes should be aware of some of the rules that govern these valuable instruments. Here are some (but by no means all) of the issues to consider.

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Julian Schubach is an Investment Advisor Representative of Nosuris, Inc., a New York State Registered Investment Advisory. Investment Advisory Services are offered through Nosuris, Inc., a NYS Registered Investment Advisory. Please visit www.Nosuris.com for additional disclosures. Check the background of this firm on FINRA’s BrokerCheck.

©2016 by Julian Schubach