A Qualified Personal Residence Trust (QPRT) is an attractive estate planning tool for individuals whose asset base exceeds the amount that can be protected by available estate tax exemptions. It allows for a deferred gift of a residence to beneficiaries of your choice, thereby shifting wealth without parting with any liquidity. Thus, you can transfer an asset without any impact on financial security or income stream. However, there are specific rules that govern the creation and administration of a QPRT, which are covered, in part, in this video.
QPRT: Qualified Personal Residence Trust
