When we think of asset protection planning, we think of many things….like heading South to Florida or Texas, for example. But most estate planning attorneys do not think of QPRTs for asset protection. Rather, we think of them as a way of getting value out of the estate and down to the children or other beneficiaries at a discount. However, in a recent newsletter (Asset Protection newsletter #219) on Steve Leimberg’s website , author Jay Adkisson discusses a bankruptcy case from the Eastern … [Read more...] about QPRTs for Asset Protection?
Qualified Personal Residence Trust
New Law, New Strategy: QPRTs
In my last two posts, we’ve been looking at James and Susan, married business owners in their late 50’s. James and Susan have a net worth of just under $20 million, and they’ve come to you with some pretty simple estate planning goals: they want to provide first for each other, and then for their two children, Mark, 35, who is married with three children, and Emily, 33, who is a newlywed with no children. Of course, they also want to minimize their overall tax bill as much as possible. One of … [Read more...] about New Law, New Strategy: QPRTs
