If you and your spouse or another person own assets as joint tenants, when one of you dies, the property automatically passes to the surviving joint tenant. Too often used as a means of avoiding probate, although it is not necessarily the optimal tax strategy for most people. When structuring a QPRT, the title to the residence may be changed to tenants in common so each spouse, where applicable and appropriate, can transfer one-half interest to his or her separate QPRT.
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