If you’re like most people, you haven’t heard of qualified personal residence trusts. They are abbreviated “QPRT” for short; and, pronounced “Q – Pert.” They are irrevocable (can’t change them) split interest (you benefit and your children benefit) trusts. You benefit by living in your home rent free for a period of years. Your children benefit because federal estate taxes are eliminated and they get the house. QPRTs have a role in California planning where the high value of real estate … [Read more...] about What is a Qualified Personal Residence Trust?