WebAug 28, 2024 · Life Estate: A type of estate that only lasts for the lifetime of the beneficiary. A life estate is a very restrictive type of estate that prevents the beneficiary from selling … WebIf you love your spouse and want to make them financially independent, one way to do so is to create a Spousal Lifetime Access Trust, or SLAT. A SLAT is an irrevocable trust where one spouse makes a gift into a trust to benefit the other spouse (and potentially other family members) while removing the assets from their combined estates. Because a SLAT is …
Blended Families Using Spousal Lifetime Access Trusts - Forbes
WebOct 19, 2024 · One way of doing so is through a Spousal Lifetime Access Trust (SLAT). A SLAT is an irrevocable trust that contains assets gifted to it by one spouse (the donor spouse) for the benefit of the other spouse (the non-donor spouse), with the residual passing to the children. By placing the assets within the trust, the assets are removed … Web($11,580,000 per person) and avoid estate tax at death on the gifted assets as well as their appreciation, while enjoying the lifetime benefits from the trust payable to the beneficiary spouse. How SLATs Work The Grantor (donor) makes a completed gift funding the trust. A SLAT can be funded with any type of asset appropriate for a trust, things to do in lincoln new mexico
What Is a Life Estate? - Investopedia
WebOct 31, 2024 · Spousal Lifetime Access Trusts (SLATs) October 31, 2024. Print View. Financial planning. WebDec 15, 2024 · A spousal lifetime access trust can be an important estate planning tool in certain situations. For most Americans, estate taxes are a non-issue. Under current tax law, the first $12.06 million of an individual’s … WebA Spousal Limited Access Trust (SLAT), or Spousal Lifetime Access trust, is a flexible irrevocable trust that provides the grantor (trust creator) wealth protection, estate tax reduction and benefit to their spouse. Read Related: A Guide to Different Types of Trusts in Estate Planning. things to do in lincoln nh in november