QPRT

by Bruce Givner on May 15, 2011

If you want Estate Tax, Gift Tax, and asset protection advantages you want a QPRT or Qualified Personal Residence Trust. (310) 207-8008

There are several types of advantages that come from transferring your personal residence to a qualified personal residence trust (QPRT).

  • Estate Tax Advantages
  • Gift Tax Advantages
  • Asset Protection Advantages
  • Creditor Protection

If your home has $1,000,000 of equity, then transferring it to a QPRT is a way to reduce the gift value by – typically – 2/3rds when you are trying to move it out of your estate and give it to your children.

Another type of advantage to a QPRT – the reason why we set up most QPRTs – is asset protection and creditor protection. Once your home is in a QPRT, the equity is no longer attractive to some future creditor. All you have is the right to live in the home rent free for some term of years. That’s why a QPRT is a terrific creditor protection device for your home.

To establish your QPRT contact Givner & Kaye today. (310) 207-8008

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