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QPRT

What is a QPRT?

A Qualified Personal Residence Trust or QPRT is an Irrevocable Trust specifically designed to take advantage of IRS rules to remove the value of the Grantor’s home from the taxable estate.

What is a QPRT’s Purpose?

A QPRT can freeze the value of the Grantor’s residence as of the transfer into the Trust. The home is given to the trust, but the Grantor retains the right to live in the home. This retained right makes the QPRT a Grantor Trust. The trust is designed to last a certain number of years, and, if the Grantor outlives this time, the home passes to the beneficiaries. Because the gift is of a future interest, the value of the gift is reduced. If successful, the real estate passes to the beneficiaries using a fraction of the Grantor’s exemption.

Reasonable Prices | Years of Experience | We Make Trusts and Estate Planning Easier.

If you have any questions about Qualified Personal Residence Trusts or any other estate planning topics, please contact us to schedule a free consultation. For more than two decades Klenk Law has focused only on Estate Law. We’ve seen it all, and this experience allows us to explain complex estate law and planning techniques clearly and concisely. We make it easy for you to understand QPRTs so you can make the best decisions for yourself and your family.

What Our clients are saying

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B.A.

Peter Klenk and his associates are responsive and professional - It is a pleasure to work with their team. If you have needs in estate planning or administration, they are the firm to go to in the Philadelphia area!

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A Google User

Peter is a model attorney who puts his clients first at all costs. His extensive expertise in estate planning and tax planning was a great comfort as we began, and have expanded, our family. He is very thoughtful, generous, and quick witted. His approach towards his business has been an inspiration to his peer group, and his zest for life is extremely infectious. Without reservation, I highly recommend Peter as trusted and cherished counsel

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MJG

Affable...yet surprisingly cerebral estate planning atty. High marks all the way around.

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Rachel Roney

Peter has done a great job with the estate planning for my father. He is very thorough and patient as we, the family need to make decisions.

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Ian Marchant

Mr. Klenk, quickly understood the circumstances presented and provided clear and concise advice. This advice provided me with the information I required to progress the case to my advantage.

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