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While passing on your wealth to future generations, you might want to make it as estate tax-efficient as possible.
If your estate amount exceeds the estate tax exemption limit, a Qualified Personal Residence Trust (QPRT) might be for you.
In this episode, Seth Meisler, CFA, CFP®, CPA/PFS, MBA, Senior Wealth Advisor, and Samantha Lawrence, CFP®, Associate Advisor, discuss how the QPRT strategy can help reduce your wealth transfer taxes.
Seth and Samantha discuss:
- How a QPRT works and the process for setting it up
- The major tax benefits involved (estate and gift)
- Who is the ideal candidate for the QPRT strategy
- Potential risks related to QPRTs that you should keep in mind
- And more
Related: How To Achieve Tax Efficiency With Private Placement Life Insurance