How it works:

-- You choose the term of the trust -- 10 years, 15 years or any length you want -- and continue to live in the home and pay all expenses during that time.

-- Your home is moved out of your taxable estate.

-- At the end of the term, the property is transferred to the beneficiary(s) of the trust, for instance your kids.

-- If you wish to remain in the home at the end of the term, you can pay a fair rent.

Why it makes sense:

-- If you set up a QPRT now when prices are low, you'll lock in a low-gift tax rate. Because of how the IRS calculates the value of your home for a QPRT, your gift may very well fall within the $1 million lifetime gift exclusion, so chances are you won't pay any gift tax at all.

-- Your kids will benefit from future appreciation of your property, but won't pay any inheritance taxes on it.

There is one catch however. If you die before the end of the term of the trust, your home reverts back to your estate. So plan carefully, and choose a term that you feel confident you'll outlive. An estate tax attorney can help you decide if a QPRT makes sense for your situation and how best to set it up.

These positive moves may not be right for everyone, but they're certainly worth considering. At the very least, you'll be looking closely at your alternatives and deciding how to make the best of today's stormy financial climate. When the sun finally comes out, you'll be glad you did.