Qualified Personal Residence Trusts and Their Potential Use In Meeting Estate Planning Objectives
Posted on: April 10th, 2015
What is a Qualified Personal Residence Trust? A Qualified Personal Residence Trust (QPRT) is a trust that holds a personal residence for a term of years, allowing the creator of the trust (grantor) to remain in the residence. When the term of the trust ends, ownership of the personal residence transfers to the beneficiaries of the grantor. The grantor can retain the right to rent the residence after the term of the trust ends....