Trusts and Estates > Estate Planning > QPRT Exit Strategy

May 1, 2009 12:00 PM

QPRT Exit Strategy

, By Bruce J. Bettigole

Don't leave home without it

By Bruce J. Bettigole

Okay — you've sold your clients on the potential estate tax benefit to be achieved with a qualified personal residence trust (QPRT).1 And you've explained that, with a married couple, the benefits can be even greater if each deeds only a 50 percent interest in the residence to a separate QPRT. Then, in addition to the valuation discount available for the QPRT, an additional fractional interest discount will be applied, thereby further reducing the taxable gift.

So, now the client wants to know: “What happens when the QPRT term is over and I still want to use the property?”

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