News & Analysis as of September 19, 2024

Estate Planning › Qualified Personal Residence Trust

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

QPRTs: Take Advantage of Efficient Wealth Transfers While Rates Are Higher

Davis Wright Tremaine LLP on 1/2/2024

In a high interest environment, a QPRT ("Qualified Personal Residence Trust") is a great tax strategy with a statutory basis, supported by both the Internal Revenue Code and its Regulations, that can allow taxpayers to make a...more

Divorcing the Wealthy is Often a Matter of “Trusts”

Fox Rothschild LLP on 7/27/2023

I received a call recently from a colleague looking to refer a client for a divorce. Our firm had done estate planning for the client and spouse, thus we were not eligible to represent either party in a marital break up as...more

[Podcast] Episode 10: You Can Turn Your Home Into Major Estate Tax Savings

Proskauer - Worth It Podcasts on 6/8/2023

In this episode of Worth It, Proskauer associates Jacob Wonn and Nathalie Stenmark discuss qualified personal residence trusts (also known as “QPRTs”), how they work, what the potential benefits are and why clients might...more

Planning for the Family Vacation Home

Buckingham, Doolittle & Burroughs, LLC on 1/10/2023

A family vacation home offers an escape from the stresses of everyday life, and an opportunity for bonding. Parents return to their vacation homes year after year, creating memories with their children and grandchildren. If...more

Estate Planning Solutions for Year-End 2022 and Beyond

Husch Blackwell LLP on 12/6/2022

By most accounts, 2022 has been a tumultuous year from a planning perspective: the uncertainty of the midterm elections, stock market volatility, rising interest rates and the highest level of inflation in recent history have...more

Estate Planning During Periods of Inflation and Market Volatility

Polsinelli on 6/30/2022

Earlier this year the stock market entered bear market territory. This happens when the market declines more than 20% or more from its most recent high. The market decline has been attributed to several factors including...more

House Democrats Propose Estate and Gift Tax Law Changes: Important Estate Planning Implications

Verrill on 9/29/2021

What you need to know: On September 13, 2021, the House Ways and Means Committee released its proposed tax plan to fund President Biden’s $3.5 trillion “Build Back Better” social and economic spending package. If enacted as...more

FAQs About QPRTs

Adler Pollock & Sheehan P.C. on 11/10/2020

Have you considered transferring ownership of your home to a trust? By using a qualified personal residence trust (QPRT), you can avoid potential estate tax pitfalls without drastic changes during your lifetime. Essentially,...more

2012 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/21/2012

Now that the election is over, we anticipate having some guidance soon with respect to the numerous tax and planning issues that have been mired in uncertainty for the past two years. Many tax benefits are scheduled to...more

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Estate Planning › Qualified Personal Residence Trust

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