Qualified personal trusts rise in popularity

More and more New York City apartments aren’t owned by the name on the mailbox or above the peephole. They’re owned by Qualified Personal Residence Trusts, or QPRTs. When usedécorrectly during estate planning, QPRTs can substantially reduce estate taxes by reducing the full value of a residence. They’ve become especially popular now because of the spikes in real estate values. more [NYDN]