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A personal residence is one of the following: the principal residence of the grantor; one other residence of the grantor; or; an undivided fractional interest in either. Up to two residences may be transferred into residence trusts, and one must be the primary residence. The other residence, usually a vacation home, may be rented by the grantor ...
A Qualified Personal Residence Trust, or QPRT, is something you may decide to create to minimize gift and … Continue reading ->The post Qualified Personal Residence Trust (QPRT) appeared first ...
Another example is a qualified personal-residence trust, which removes a home from an individual's estate. When that person passes away, the family can continue residing in that home without the ...
Lump sum vs. annuity: 6 factors to consider when making your decision. Everyone’s financial situation is different, so it’s important to consider a few key factors — such as tax implications ...
The process of asset protection planning involves assessing the facts, circumstances, and objectives of an individual, evaluating the pros and cons of the various options, designing a structure that is most likely to accomplish all the objectives of the individual (including asset protection objectives), preparing legal documents to carry out ...
In highly appreciating markets, people may take the opportunity of selling their personal residence (where no capital gain is due below $250,000 for a single person or $500,000 for a married couple—see Taxpayer Relief Act of 1997) and moving into a former rental property for a specified time period in order to turn it into their new personal ...
Pros. Cons. Potential for higher returns that can beat inflation ... For example, qualified dividends and long-term capital gains can get taxed at lower rates that range from 0% to 20%. Plus ...
Supplemental needs trust is a US-specific term for a type of special needs trust (an internationally recognized term). [1] Supplemental needs trusts are compliant with provisions of US state and federal law and are designed to provide benefits to, and protect the assets of, individuals with physical, psychiatric, or intellectual disabilities, and still allow such persons to be qualified for ...