Qualified Personal Residence Trusts (QPRT)
A Qualified Personal Residence Trust is a legal entity specifically created to hold and distribute your personal home. If you plan to transfer your home to a beneficiary at some point in the future, a QPRT serves as an option that would allow you to continue to live in your home while effectively lowering, or eliminating, the gift tax on the home for your beneficiary at the time of transfer. At your death, the home can pass to your family free of estate tax.