Oregon Titular calificado de fideicomiso de residencia personal de un plazo - Qualified Personal Residence Trust One Term Holder

• Category: Fideicomisos - Bienes Raíces - Residencias Personales
• State: Multi-State
• Control #: US-0681BG
• Format: Word

Description

Establishing a Qualified Personal Residence Trust (QPRT) involves transferring the residence to a trust that names the persons who are to receive the residence at the end of the stated term, usually a child or children of the donor. The donor is the trustee and maintains control of the trust and the residence during the selected term. The donor is still considered the owner for income tax purposes. The donor continues to make mortgage payments, if any, and pays for property taxes, insurance and routine maintenance. As a result the donor gets to take the income tax deductions related to the property. He or she also receives the tax benefits associated with the sale of a principal residence. Oregon Qualified Personnel Residence Trust (PRT) is a legal term used to describe a specific type of irrevocable trust established in the state of Oregon. This trust is primarily designed to allow individuals to transfer their personal residence or vacation property to their heirs while minimizing estate and gift taxes. A Qualified Personnel Residence Trust One Term Holder is a variant of the PRT that focuses on a single-term holder for the trust. This means that the granter (owner of the property) names one individual who will hold the trust for a specified period, often between 5 and 20 years. At the end of the term, the property passes to the beneficiaries, typically the granter's children, family members, or anyone designated by the granter. The main purpose of establishing an Oregon PRT One Term Holder is to remove the value of the personal residence from the granter's estate for estate tax purposes while allowing them to continue living in the property for the chosen term. By transferring the property to the trust, the granter can potentially reduce the estate's overall value, making it subject to lower estate taxes upon their passing. There are several key considerations and advantages associated with an Oregon PRT One Term Holder: 1. Estate Tax Reduction: The primary benefit of utilizing this trust is the reduction of potential estate taxes. By removing the residence's value from the estate, the granter can potentially pass on the property to their heirs with a reduced tax burden. 2. Retention of Use: Through the term holder arrangement, the granter can continue residing in the property throughout the specified term. This allows them to maintain control and use of the property during their lifetime. 3. Property Transfer: At the end of the term, the ownership of the property transfers to the beneficiaries. This transfer often occurs without estate or gift taxes, providing significant value to the named individuals. 4. Potential Gift Tax Savings: When the trust is established, the transfer of the property is considered a gift. However, the value of the gift is reduced by the retained interest of the granter during the trust term, potentially reducing or eliminating any associated gift taxes. 5. Protection from Creditors: Assets held in an Oregon PRT One Term Holder may offer some protection from creditors, as they are held in an irrevocable trust outside the granter's estate. It is important to note that the specifics and benefits of establishing an Oregon PRT One Term Holder may vary depending on individual circumstances, such as the value of the property, the chosen term, and the current estate tax laws. Seeking guidance from a professional estate planning attorney or tax advisor is recommended to ensure compliance with local regulations and to maximize the benefits of this trust. Other types of Oregon Qualified Personnel Residence Trusts may include Parts with multiple term holders, such as a PRT with two spouses as term holders or a PRT with multiple generations as term holders. These variations allow for more complex estate planning strategies and may offer additional benefits and flexibility.

Oregon Qualified Personnel Residence Trust (PRT) is a legal term used to describe a specific type of irrevocable trust established in the state of Oregon. This trust is primarily designed to allow individuals to transfer their personal residence or vacation property to their heirs while minimizing estate and gift taxes. A Qualified Personnel Residence Trust One Term Holder is a variant of the PRT that focuses on a single-term holder for the trust. This means that the granter (owner of the property) names one individual who will hold the trust for a specified period, often between 5 and 20 years. At the end of the term, the property passes to the beneficiaries, typically the granter's children, family members, or anyone designated by the granter. The main purpose of establishing an Oregon PRT One Term Holder is to remove the value of the personal residence from the granter's estate for estate tax purposes while allowing them to continue living in the property for the chosen term. By transferring the property to the trust, the granter can potentially reduce the estate's overall value, making it subject to lower estate taxes upon their passing. There are several key considerations and advantages associated with an Oregon PRT One Term Holder: 1. Estate Tax Reduction: The primary benefit of utilizing this trust is the reduction of potential estate taxes. By removing the residence's value from the estate, the granter can potentially pass on the property to their heirs with a reduced tax burden. 2. Retention of Use: Through the term holder arrangement, the granter can continue residing in the property throughout the specified term. This allows them to maintain control and use of the property during their lifetime. 3. Property Transfer: At the end of the term, the ownership of the property transfers to the beneficiaries. This transfer often occurs without estate or gift taxes, providing significant value to the named individuals. 4. Potential Gift Tax Savings: When the trust is established, the transfer of the property is considered a gift. However, the value of the gift is reduced by the retained interest of the granter during the trust term, potentially reducing or eliminating any associated gift taxes. 5. Protection from Creditors: Assets held in an Oregon PRT One Term Holder may offer some protection from creditors, as they are held in an irrevocable trust outside the granter's estate. It is important to note that the specifics and benefits of establishing an Oregon PRT One Term Holder may vary depending on individual circumstances, such as the value of the property, the chosen term, and the current estate tax laws. Seeking guidance from a professional estate planning attorney or tax advisor is recommended to ensure compliance with local regulations and to maximize the benefits of this trust. Other types of Oregon Qualified Personnel Residence Trusts may include Parts with multiple term holders, such as a PRT with two spouses as term holders or a PRT with multiple generations as term holders. These variations allow for more complex estate planning strategies and may offer additional benefits and flexibility.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.