From Matus Law Group – What Is A Qualified Personal Residence Trust? explores how a Qualified Personal Residence Trust (QPRT) can help New Jersey homeowners reduce estate taxes while ensuring their homes stay in the family. This episode breaks down the intricacies of QPRTs, a powerful estate planning tool that allows individuals to transfer their primary residence or vacation home into an irrevocable trust — all while retaining the right to live in it for a set period of time. Listeners will gain a detailed understanding of how QPRTs operate, including their unique tax advantages and critical IRS compliance requirements.
Christine Matus, Esq., founder of The Matus Law Group and a seasoned trust and estate planning attorney in Ocean County, shares insight into how QPRTs can freeze the value of a home for gift tax purposes and remove future appreciation from the taxable estate. Drawing on over 25 years of legal experience, Christine explains how this strategy benefits families with high-value properties, particularly those along the Jersey Shore in towns like Lavallette, Seaside Heights, and Long Beach Island. She walks listeners through the mechanics of trust setup, trustee responsibilities, and how to manage the transfer process to ensure legal and tax compliance.
This episode also delves into when a QPRT might make the most sense—particularly for homeowners in their 50s or early 60s with estates exceeding the federal exemption limit, and for those who wish to maintain control of their property for a defined period. Listeners will hear practical examples, including how capital gains, mortality risks, and potential rent arrangements factor into this complex decision-making process. Christine emphasizes the importance of balancing the benefits of reduced estate taxes with the risks of outliving the trust term and forfeiting the tax advantages.
Tune in to learn how a QPRT can preserve generational wealth, what properties qualify under IRS rules, and why strategic guidance from a trusted New Jersey estate planning attorney is essential. With a focus on real-world applications and Ocean County-specific insights, this episode offers critical takeaways for families looking to safeguard their most valuable asset — the home — for future generations.
Matus Law Group
81 E Water St #2C, Toms River, NJ 08753, United States
(732) 281-0060
