Introduction
Below we have described what we call advanced estate planning
techniques that clients may wish to consider once they have basic
estate planning documents in place. The descriptions below are not
intended to be a discussion of all the technical requirements for
each technique, but rather, a general description of the technique
and how it works. If you would like to explore the use of any of
the techniques described below, a member of the trusts and estates
department would be happy to discuss the technique with you in
detail and to prepare an analysis of how the particular technique
would operate in your overall plan.
Qualified Personal Residence Trusts
("QPRT")
QPRTs are an estate planning technique specifically permitted
under the Internal Revenue Code and Regulations. To use this
technique, the grantor creates a trust to which he or she transfers
a residence. Under the terms of the trust, the grantor may use the
residence contributed to the trust
