April 2020 Irrevocable Trust Termination

Scottsdale couple transferred their personal residences to several irrevocable Qualified Personal Residence Trusts (QPRTs) under the advice of prior counsel.  Clients now desired to unwind the transactions.  DeAngelis Legal reviewed the facts, trust documents and client’s objectives in order to propose alternatives for terminating the QPRTs in conjunction with the client’s tax and accounting professionals.  [...]