Transferring a personal residence to a qualified personal residence trust (QPRT) is a common estate-planning technique used to make an inexpensive gift of a residence to the next generation. QPRTs may be particularly attractive now. The bursting of the real estate bubble and economic downturn make it very tax-efficient to transfer a residence now, while values are depreciated. (See QPRTs Can Be a Good Deal Now) Pursuant to Internal Revenue Code Section 2702, the QPRT reduces the value of ...

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