Qualified Personal Residence Trusts
A QPRT is an effective tool for planning and managing your estate and to reduce the amount you pay towards federal estate taxes. The trust allows for the continued use of the residency by the owner while providing a path for ultimate ownership of the property by whomever the individual so chooses. Whether your trying to slowly transfer property to a family member or potential business partner, a well drafted QPRT can prove to be an effective tool in carrying out your legal needs.
The laws surrounding a QPRT however can be confusing, and since the trust is irrevocable it is imperative that everything is done correctly the first time. Therefore, it is crucial that you seek out legal assistance when creating a qualified personal residence trust. At Clausen & C entrich PLLC, we are dedicated to providing our clients with the legal expertise and knowledge that is necessary when creating a QPRT. With over 90 years of combined legal experience, our veteran attorneys are ready and able to help you meet and even surpass your legal, financial, and personal needs.