Justin H. Brown, left, and George M. Riter Jr., right, of Ballard Spahr. Courtesy photos Qualified Personal Residence Trusts: An Estate Planner's Tool in a High Interest Rate Environment
QPRTs are most appealing for individuals who have, or will have, a taxable estate for estate tax purposes at the time of their death.
May 02, 2024 at 12:02 PM
8 minute read
Trusts and EstatesWith interest rates continuing to rise, qualified personal residence trusts (QPRTs) have become a useful estate planning tool that is especially effective in a high interest rate environment. A QPRT is an irrevocable trust that is designed to exclusively hold a primary or secondary residence for a set term. During the term, the creator of the trust (the settlor) retains the right to live in the residence, and after the expiration of the term, the residence automatically passes to a beneficiary (known as the remainder beneficiary). The remainder beneficiary may be an individual or individuals or a trust or trusts.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Pennsylvania Modernizes Trust Administration With New Directed Trust Statute
8 minute read
Falling Back in Love With Certain Estate Planning Strategies in a Falling Interest Rate Environment
9 minute read
Key to Transferring the Garden: Review of NY's 2024 Transfer-on-Death Deed Law Provides Model for Pa., NJ
10 minute readLaw Firms Mentioned
Trending Stories
- 1Construction Worker Hit By Falling Concrete Settles Claims for $2.3M
- 2Phila. Jury Hits Sig Sauer With $11M Verdict Over Alleged Gun Defect
- 3Lost in the Legal Maze: How State Regulations Are Hindering Hemp Operators' Success
- 4New Associates Yearbook 2024
- 5Disbarred Attorney Alleges ADA Violations in Lawsuit Against Miami-Dade Judges
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
