Jan 17, 2024 · What is a spousal lifetime access trust (SLAT)? A SLAT is an irrevocable trust, which means it generally can’t be changed once created. It enables one spouse to make a gift that can benefit the other spouse even while the spouse who made the gift is still alive.

A Spousal Lifetime Access Trust (SLAT) presents several significant advantages for married couples looking to manage their estate and secure financial stability for their family. By creating a SLAT, couples can leverage various tax benefits, asset protection strategies, and flexible distribution options tailored to their unique needs.

SLATs offer a way to benefit spouses while strategically removing assets from taxable estates. If structured properly, SLATs can provide creditor and estate tax protection for generations to come. In this article, we examine the mechanics of SLATs and the key considerations when deciding if this strategy aligns with your estate planning goals.

Jul 10, 2024 · For married couples looking to lock in today's limit without sacrificing access to their assets, one option to consider is a spousal lifetime access trust (SLAT), which is irrevocable and provides payouts to the beneficiary spouse while excluding the trust's assets from the donor (or grantor) spouse's gross taxable estate.

Aug 30, 2024 · A spousal lifetime access trust (SLAT) is an irrevocable trust with estate planning benefits like minimizing estate taxes and excluding appreciation on transferred assets from the grantor’s taxable estate.

A spousal lifetime access trust (“SLAT”) may be the solution for these concerns. What is a SLAT and how would I create one? A SLAT is a form of irrevocable trust that cannot be amended or terminated except under limited circumstances.

Nov 23, 2022 · What is a spousal lifetime access trust? A SLAT is a type of irrevocable trust created by one spouse (trustmaker spouse) for the benefit of the other spouse (beneficiary spouse) used to transfer money and property out of the trustmaker spouse's estate.

Jul 6, 2023 · In a SLAT, one spouse, known as the donor or grantor, transfers assets into the trust for the benefit of the other spouse, who becomes the beneficiary. A donor can put cash, real estate, investments, life insurance policies, or even business shares into the trust.

What is a Spousal Lifetime Access Trust? Under the terms of a SLAT, the donor spouse gives certain assets to the trust for the benefit of the other (the beneficiary spouse). SLATs are irrevocable trusts, so the transferred assets are excluded from the donor spouse’s estate for estate tax purposes.

Sep 18, 2024 · What is a spousal lifetime access trust? A SLAT is an irrevocable trust that allows one spouse (the donor spouse) to gift assets to a trust to benefit the other spouse (and potentially other family members), thereby removing the assets from their combined estates.