Bill and Hillary are reportedly using tax advantaged strategies used by multimillionaires.
Clients benefit from a QPRT’s by transferring their principal residence into an Irrevocable Trust (meaning that the trust cannot be amended, modified, or revoked once it has been created and funded), and retaining a right to live in that residence for a period of years. The named beneficiaries of the trust will receive the residence from the trust when the term ends, should the Grantor survive until that time.
Video – Qualified Personal Residence Trusts, Bezaire, Ledwitz & Associates, APC
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Viewpoints on Financial Planning A qualified personal residence trust is ideal for anyone who has a substantial estate and is expected to face future transfer taxes. One of the best tools to manage future transfer tax liability for wealthy families is a qualified personal residence trust (QPRT).
A popular estate planning technique in today’s growing real estate market is to transfer a residence to a qualified personal residence trust (QPRT) to reduce the size of the estate. This article provides a case study on the mechanics of creating and funding a QPRT and discusses the savings, benefits and disadvantages of having one.