The icing on the cake – A QPRT allows you to save estate taxes on your home while still living in it
Abstract: Now may be a good time to consider a qualified personal residence trust (QPRT), which allows a person to transfer their home to their children or other family members at a deeply discounted gift tax value. By doing so, they can remove the home’s value and any future appreciation from their taxable estate. And they can continue to live in the home indefinitely, which can be an excellent strategy if the property’s value is depressed and is expected to increase. But, as this article explains, it’s important to be aware of the requirements of a QPRT, along with capital gains tax ramifications.