The problem with planning for the family homestead is a very practical one. Likely, you are living there and would like to continue doing so for as long as you can. On the other hand, you do not want to subject your home to probate or estate taxation.
Properly structured, a QPRT can allow you to live in the home while simultaneously giving it away by holding it in the trust. While there are more than a few tax advantages to this, this ability to preserve the home and transfer it is always key.
All that noted, the favorable interest rates and political winds may be about to shift on QPRTs and GRATs. Consequently, do not procrastinate or the window of opportunity may close.
