Clients of means can benefit significantly from a Qualified Personal Resident Trust (QPRT), but your firm needs to set up this valuable estate planning tool accurately and correctly. A QPRT can reduce your client’s taxable estate, but if your client lives beyond the initial trust term, all sorts of concerns arise. Wealth Docx® QPRT software ensures potential mistakes don’t occur. 

In our last post, we considered how swap powers were a strategic way to minimize tax liabilities on assets in trusts. Recall that swap powers grant the right to substitute—or swap—property of equal value in a trust. This adjusts the cost basis of the property to the FMV at the time of death.

Clients come to your estate planning firm craving guidance and clarity. They want to protect their legacies, put their affairs in logical order and ensure their beneficiaries’ future. In other words, they depend on you to restore their sense of stability.