Reviews

What others have said about The QPRT Manual

“What is the greatest single book ever written? Simple: The QPRT Manual. I’ve darned near worn out my copy. I’ve had to chain it to my credenza so it doesn’t ‘walk off.’”

-Ron Kesterson, Esq., Baker Botts, Houston, TX

The following review is from Steve Leimberg’s Estate Planning Newsletter # 757 (Dec. 2, 2004) at leimbergservices.com:

Natalie B. Choate, the author of the bible on retirement distribution planning, Life and Death Planning for Retirement Benefits has just released the first ever The QPRT Manual.

It’s a winner and like its sister book, should be within arms-length distance of any professional who has a question on QPRTs!

[The QPRT Manual is no longer in print, but you can still purchase the complete book as a pdf on this website. Order the online version: $59.95.
You will receive a link to a pdf version which you can download to your computer and read on screen or print and read.]

464 pages (including a great index), the eight chapter QPRT manual is crammed with useful (yes, this is not an impress the troops dry law-book type tome) and practical information, QPRT Manual also has forms, QPRT private letter rulings, a nifty drafting checklist, and a very extensive bibliography – although it’s not likely you’ll need to go anyplace else for the answer to a QPRT question – including a step-by-step explanation of the mathematics of QPRT calcs – and a reference to the two key software packages the IRS itself uses for doing the calcs, my NumberCruncher (http://www.leimberg.com) and Larry Katzenstein’s TigerTables (http://www.tigertables.com). (Thanks Natalie!)

Chapters include:

  • HOW QPRTs SAVE TAXES (Tax economics, client profile, alternatives to QPRTs)
  • THE PERSONAL RESIDENCE (What is – and what is NOT – a personal residence)
  • DRAFTING THE QPRT (Essential, Optional/Alternative, and Recommended Provisions)
  • GIFT AND ESTATE TAX TOPICS (Calculation of Gift Tax Value/Gift/Estate Tax Issues)
  • CONQUERING THE GST TAX (Death of Child of QPRT Donor After QPRT Begins)
  • INCOME TAX ISSUES (Grantor Trust Rules/TIN and Reporting/Basis/Sales Issues)
  • QPRTs IN OPERATION (Second Thoughts/Changes in Circumstances/Operational Problems)
  • CASE STUDIES (Practical Problem/Solution Solving)

Appendixes include:

  • FORMS
  • PRIVATE LETTER RULINGS
  • DRAFTING CHECKLIST

I wouldn’t say it’s malpractice for an estate planning attorney or other estate planner not to own and use The QPRT Manual – but then again – it clearly is criminal to know such a great resource exists – and not have and use it!

HOPE THIS HELPS YOU HELP OTHERS!