What Is A Crummy Trust - The crummey trust, also known as an “irrevocable gift trust” or a “qualified personal residence trust (qprt),” is a unique estate. A crummey trust is an irrevocable trust that permits the gifting of assets to beneficiaries without utilizing the lifetime gift. In the united states, a crummey trust is a trust for the benefit of individuals into which gifts are made in a manner qualifying.
The crummey trust, also known as an “irrevocable gift trust” or a “qualified personal residence trust (qprt),” is a unique estate. In the united states, a crummey trust is a trust for the benefit of individuals into which gifts are made in a manner qualifying. A crummey trust is an irrevocable trust that permits the gifting of assets to beneficiaries without utilizing the lifetime gift.