qualified personal residence trust (QPRT)

Definition of "qualified personal residence trust (QPRT)"
  1. A type of trust that aims to reduce estate tax by transferring a home out of the owner's taxable estate while maintaining the owner's right to live there for a set period
How to use "qualified personal residence trust (QPRT)" in a sentence
  1. Under a qualified personal residence trust (QPRT), her estate tax was reduced as she retained the right to live in the property for ten years.
  2. The qualified personal residence trust (QPRT) allowed him to pass his house to his children with less estate tax.
  3. Using a qualified personal residence trust (QPRT), she moved the ownership of her vacation home to a trust, saving on estate taxes.
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