Are the Qulaified Personal Residence Trust rules changing as of Jan 1 2013?

There are several aspects of estate tax and law that are changing in January 2013, not the least of which is the estate tax and the gift tax.  Tax free gifts of up to $5 million dollars can be made now, in 2012, but chances are that is going to disappear in 2013.  A QPRT is generally used to help people keep a home, and possibly still obtain Medicaid.  If your parents own properties in another country, then they could use the trust to transfer ownership after they die, without needing to go through the probate process in another country.  As for the shore home,  did it sustain damage in the recent hurricane?  You might be eligible for property tax relief, but you will have to apply for it.  the secondary residence can also be placed into trust to pass to heirs without going through the estate.  Feel free to contact my office for a free consultation.