Feld Law Offices--Elder Law in Broward, Florida.

Articles by Alice Reiter Feld

QUALIFIED PERSONAL RESIDENCE TRUST

Qualified Personal Residence Trust allows one's personal residence to be transferred into an irrevocable trust. The value of the property is assessed as of the date of transfer to the trust from which is deducted the worth of the retained interest, yielding the gift amount for gift and estate tax purposes. Should the grantor survive the trust term, the residence value will be out of the grantor's estate and will pass to the remainder persons free of tax. The beneficiaries must be spouse or children, or brother or sister or spouse of these individuals. If the property is sold, it loses its tax benefits.

West Broward (Fort Lauderdale area)
Cinnamon Tree Plaza
5701 N. Pine Island Rd, Suite 260
Tamarac, Florida 33321
Phone: (954) 726-6602
Fax: (954) 721-0910

Boynton - Delray
Delray Commons - SW Corner
2160 West Atlantic Avenue, 2nd Floor
Delray Beach, Florida 33445
Phone: (561) 496-0077
Fax: (954) 721-0910

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