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July 20 1998
Trust Saves Taxes Reducing Your Home's Value

Qualified Personal Residence Trusts (QPRTs) are probably one of the best kept secrets in the estate planning field. QPRTs are ideal for passing your house or vacation home to children with minimal taxes.

Rather than making an outright gift of a home to a child (which would substantially reduce your Unified Credit allowance), you can gift a home through a QPRT. With the QPRT, you can continue to live within that home for a pre-determined number of years.

Any gift over $10,000 made in one year will incur some form of gift tax. These gift taxes, which mirror estate taxes, can climb as high as 55%. To reduce the gift taxes that must be paid from your home, you must actually reduce the value of your home. Even in a rising real estate market, your home's value can be discounted because you will continue to use your home.

Because you maintain the right to live in that home, a QPRT significantly reduces the "value" of that transfer to the QPRT in the eyes of the IRS. With a reduced value, the transfer to the QPRT means you'll use less of your Unified Credit, and be able to use it to protect other assets within your assets.

The QPRT Special Report outlines exactly who can benefit from this savings program. It also describes how tax-savvy individuals can integrate a QPRT with other estate planning strategies, including the Legacy Trust.

Free Special Report Now Available

To receive a FREE copy of our QPRT Special Report, please contact SaveWealth today!












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