MLchartDataset catalogue

Qualified personal residence trust

Term · Law · MLC-T-LAW-004066

An irrevocable trust used to remove the value of a personal residence from a grantor's taxable estate. The grantor retains the right to live in the home for a specified term, after which the residence passes to the beneficiaries, typically children. This strategy can significantly reduce estate taxes if the grantor outlives the trust term.

Table 1. Record
IdentifierMLC-T-LAW-004066
FieldLaw
AbbreviationQPRT
Record as JSON 
{
  "id": "MLC-T-LAW-004066",
  "term": "Qualified personal residence trust",
  "field": "Law",
  "definition": "An irrevocable trust used to remove the value of a personal residence from a grantor's taxable estate. The grantor retains the right to live in the home for a specified term, after which the residence passes to the beneficiaries, typically children. This strategy can significantly reduce estate taxes if the grantor outlives the trust term.",
  "abbreviation": "QPRT",
  "url": "https://mlchart.com/terminology/law/qualified-personal-residence-trust/"
}

Record 4,115 of 5,441 in Law terminology (MLC-0107). Request the full dataset.