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Post By George in Estate Planning - DocumentsA “qualified personal residence trust” (“QPRT”) lets you have your cake and eat it too: owners can make a gift of their residence (usually to their children) in trust, while retaining an indefinite right to live there. The transfer is subject to gift tax (for most people, that means using the gift tax credit, not paying out of pocket), but with a valuation substantially below the likely value in your estate (partly because of low values right now, mainly because of the “retained life estate”). It’s not simple, but for folks who are planning stay put and want to get appreciated bricks-and-mortar out of their estate, low interest rates and depressed pricing levels make this tool very powerful right now. I can probably assess in a short call whether it’s a potential fit for you and yours, so let’s discuss.