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Identifying and Solving Common Problems With QPRTs

Martin M. Shenkman and Joy Matak identify issues surrounding qualified personal resident trusts.

Many clients established qualified personal residence trusts (QPRTs) in past years when the exemption was much lower and estate tax rates were higher. Back then, it often made sense for some clients to sacrifice the income tax basis step-up that would otherwise result from retaining a residence until death. QPRT planning was beneficial in those prior years when high interest rates reduced the value of the remainder interest for gift tax purposes, allowing clients to leverage more value out of

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