Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Klenk Law

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

Klenk Law Logo
Stars

Great friendly staff

Klenk Law Logo
Stars

Peter and the whole team at Klenk Law are top notch. They are thorough, efficient and understanding of client needs. He was able to tailor our estate planning needs just how we envisioned.

Klenk Law Logo
Stars

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.

Klenk Law Logo
Stars

Like another reviewer, I contacted Peter through his website using the free consultation link, for a question regarding PA inheritance taxes. The question was quite technical and difficult to explain, and the answer was nowhere to be found on the web. Peter grasped precisely what I was asking, and provided a clear, helpful response (with a touch of humor) the very next day.

Klenk Law Logo
Stars

Peter has done our family's trust and estate work since our children were born. He is not only extremely knowledgeable and honest but makes sure that our arrangements remain current with the changing legal landscape. I would give him my highest recommendation as a professional in his field.

Let us put our expertise to work for you.

Free consultation within 24 hours.