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Success Stories

​Qualified Personal Residence Trusts for Younger Clients

A couple in their 50s, with assets of about $20 million, contacted us with a desire to transfer value to their children in a tax-efficient manner. After reviewing various options, the clients each created a Qualified Personal Residence Trust (QPRT) and then transferred one-half of their principal residence into the wife's QPRT, and one-half into the husband's QPRT, thereby reducing the risks that would come with a premature death of either spouse. The value of the residence was discounted on funding of the QPRTs by about 15 percent, due to the fractional interest being contributed to each. The family will save in excess of $1 million if both spouses survive the term of the QPRTs.

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