Drafts an IRC §2702-compliant Qualified Personal Residence Trust agreement with safe harbor provisions under Rev. Proc. 2003-42 and Treas. Reg. §25.2702-5(c). Generates trust instrument, signature/notarization blocks, property exhibit, beneficiary schedule, and post-execution checklist. Use when drafting a QPRT for estate planning clients transferring a personal or secondary residence with a retained occupancy term to reduce gift tax valuation.
Standardmäßig ist der Prompt ausgewählt, der zuerst die Quelle prüft. Sie können zu einem direkten Befehl wechseln oder eine lokale Kopie herunterladen.
Quelldateien prüfen
Lesen Sie SKILL.md und alle von SkillsMP angezeigten Begleitdateien, bevor Sie sich für eine Installation entscheiden.
Mit Codex oder Claude installieren Kopieren Sie diesen Prompt, fügen Sie ihn in Codex, Claude oder einen anderen Assistant ein und lassen Sie die Skill-Seite prüfen und installieren.
Ein direkter Befehl überspringt den Prüf-Prompt. Prüfen Sie die Quelle, bevor Sie ihn ausführen.
Qualified Personal Residence Trust (QPRT) Agreement
description
Drafts an IRC §2702-compliant Qualified Personal Residence Trust agreement with safe harbor provisions under Rev. Proc. 2003-42 and Treas. Reg. §25.2702-5(c). Generates trust instrument, signature/notarization blocks, property exhibit, beneficiary schedule, and post-execution checklist. Use when drafting a QPRT for estate planning clients transferring a personal or secondary residence with a retained occupancy term to reduce gift tax valuation.
Qualified Personal Residence Trust (QPRT) Agreement
Drafts an irrevocable QPRT transferring a personal residence to remainder beneficiaries at a reduced gift tax value while the grantor retains rent-free occupancy for a specified term. Compliant with IRC §2702 and Treas. Reg. §25.2702-5(c).
Prerequisites
Gather before drafting:
Parties — Grantor, initial trustee, and all remainder beneficiaries (full legal name, address, DOB, relationship, SSN/TIN, percentage share)
Property — Legal description from deed, street address, tax parcel number, county/state; confirm principal vs. qualified secondary residence per Treas. Reg. §25.2702-5(c)(2)(i)
Valuation — Qualified appraisal of FMV as of anticipated transfer date
Planning parameters — Grantor's age, health/longevity factors, desired retained term (years), applicable IRC §7520 rate (transfer month or either of two preceding months)
Existing estate plan — Prior gifts, lifetime exemption usage, will/revocable trust, GST exemption allocation history
Governing law — State of situs; note if grantor domicile differs
Trust Instrument Articles
Art. I — Preamble & Definitions
Identify grantor, trustee, execution date, governing law state
Declare trust irrevocable; recite QPRT intent under Treas. Reg. §25.2702-5(c)
Define: Residence, Retained Interest Term, Term Expiration Date, Remainder Beneficiaries, §7520 Rate, Qualified Personal Residence
Art. II — Trust Property & Permitted Holdings
Item
Requirement
Exhibit A
Verbatim legal description; all easements and appurtenances
If reduced-rent occupancy permitted, document that estate tax inclusion results
Art. V — Remainder Beneficiaries & Distribution
Each beneficiary: name, address, DOB, relationship, SSN/TIN, percentage (must total 100%)
Contingent remainder: deceased beneficiary's share → descendants per stirpes
Election: outright distribution vs. continuing trust (address occupancy, rent allocation, buy-sell, expense allocation)
Deadlock: trustee authority to order appraisal and compel sale within [X] days of term expiration
Art. VI — Trustee Powers & Limitations
Authorized: maintain/repair/improve residence; pay taxes, assessments, insurance; hold cash within Treas. Reg. §25.2702-5(c)(5)(ii) limits; engage contractors
Prohibited during term: distribute to anyone but grantor (except operating expenses); sell/encumber without grantor's written consent (any sale must comply with replacement/GRAT rules)
Fiduciary duties: loyalty, impartiality, duty to inform; annual written accounting
Art. VII — Trustee Succession & Removal
Successor trustee(s) on death, resignation, or incapacity (two-physician certification or guardian appointment)
Resignation: 60-day written notice; removal by majority beneficiary vote after term
Grantor's removal power during term: limited to replacement with independent trustee (avoid IRC §2036)
Art. VIII — Tax Status & Reporting
Item
Rule
Income tax
Grantor trust (IRC §§671–679); all items on grantor's 1040
Gift tax
Form 709 in transfer year; gift = FMV − actuarial retained interest (§7520 + Pub. 1457)
GST
If skip persons among remaindermen, allocate on full FMV (not discounted gift)
Death during term
Full FMV in gross estate (IRC §2036(a)); stepped-up basis
Survival of term
Carryover basis = grantor's adjusted basis + gift tax on appreciation (IRC §1015)
Art. IX — Termination Events
Event
Result
Grantor survives term
Deed transfer; final accounting; basis documentation
