Qualified Personal Residence Trusts

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Qualified Personal Residence Trust Lawyer in Reston, VA

With a qualified personal residence trust (QPRT), you create an irrevocable trust to hold all or a portion of a principal residence. You direct the trustee to pay you the income from the trust for a specified number of years and/or allow you possession of the trust’s property. When your interest terminates at the end of the years you’ve selected, the property in the trust is distributed to family members or the other individuals you have chosen. In some cases, the trust continues for their benefit. If you die during the term of the QPRT, the entire value of the property in the trust must be included in your estate. Conversely, if you outlive the term of the trust, then the remaining assets are excluded from your estate. So, the QPRT can serve as a viable estate tax reduction technique in times when residential real estate appreciates in value.

Contact Us to Get Started Today

To discuss your options further with an estate planning attorney, call Zell Law at (571) 410-3500 or complete our online form. With offices in Reston, Virginia, we advise and represent clients throughout the D.C. metropolitan area and nationwide.

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