Arizona Real Estate

A qualified personal residence trust, or QPRT, can reduce the federal estate tax associated with transferring property to heirs, reduce the federal gift tax associated with such transfer, and, provide asset protection.

Arizona law permits the reduction, or elimination, of property tax obligations for qualified real property owners and also allows permits real property owners to defer payment of property taxes until the real property is sold or the real property owner dies.

Real estate can be the source of substantial liabilities. Under certain circumstances, however, many of those liabilities can be eliminated by properly structuring ownership of real estate in a limited liability entity like a limited liability company (LLC).

On occasion, a decedent may desire to permit another to use real property after the death of the decedent but only for as long as the other person is alive, thereby restricting the other person (life tenant) from directing the transfer of the property at the life tenant's death. Although there are a number of different methods to create a lifetime interest in real property at a person's death, two of the simplest and most flexible methods are beneficiary deeds and trusts.