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https://www.kmgslaw.com/knox-law-institute/publications/spousal-lifetime-access-trusts-slats-not-just-for-the-rich-and-famous
Apr 02, 2018 · This trust is known as a “Spousal Lifetime Access Trust” or a “SLAT.” Note that whether it is an interest in a family business or a different asset, any asset transferred by Husband to the SLAT must be Husband’s separate property. In other words, the asset must be in Husband’s name alone.Location: 120 W. 10th St, Erie, 16501, PA
https://www.wellsfargo.com/the-private-bank/insights/planning/wpu-leveraging-spousal-lifetime-access-trust/
If not carefully drafted, the trust can also result in the continued support of an estranged spouse. A potential safeguard would be to draft the SLAT so it is available only for any current spouse (and not former or estranged spouses). The SLAT can also be drafted to eliminate a spousal beneficiary completely in the event of divorce.
https://brooklyntrustandwill.com/exploring-spousal-lifetime-access-trust-slat/
Apr 07, 2018 · What does a Spousal Lifetime Access Trust do? The Spousal Lifetime Access Trust provides a living spouse with access to an income or principal. In cases of other estate planning tools, such as a bypass trust, the spouse usually has to be deceased in order for the survivor to access the trust. However, with a SLAT, the funds are received through ...4.9/5(207)
http://www-146.aig.com/reflib/Content/estate/spousal_limited_access_trust.htm
Spousal Limited Access Trust (SLAT) ... the trustee to make distributions for such spousal maintenance or support can result in the SLAT assets being included in the grantor's estate, because such a requirement may be considered an extension of the grantor's legal obligation to provide spousal support, and thus an obligation of the grantor's ...
http://www.naepc.org/events/newsletter/4/2010
The four noted the following areas of agreement and disagreement regarding spousal lifetime access trusts. All four agree that a provision to the effect that distributions will not discharge the settlor's support obligation should cure a spousal lifetime access trust estate inclusion issue.
https://www.onefpa.org/journal/Pages/Prudence%20in%20Establishing%20a%20Spousal%20Lifetime%20Access%20Trust.aspx
Happily married couples looking for an innovative way to use their increased gift-tax exemption without diminishing their combined cash flow should consider the Spousal Lifetime Access Trust (SLAT). A SLAT is an irrevocable trust created by a married person for the benefit of his or her spouse.
http://internationalcounselor.com/Merric%20Law%20-%20Documents/spousalaccess3.pdf
obligation. The support obligation issue only occurs when a settlor creates an inter vivos spousal access trust and the trustee must use the trust property for the support of a spouse. Classification of Trusts: Under common law, whether or not a trust requires the trustee to use trust property for the support of a spouse depends on the ...
https://www.claconnect.com/resources/articles/make-use-of-the-gift-tax-exemption-with-spousal-access-trusts
May 31, 2013 · A spousal limited access trust may be a solution. Spousal limited access trusts. A spousal limited access trust (SLAT), also known as a spousal lifetime access trust, is an irrevocable trust established by one spouse for the benefit of the other, and the couple’s children and grandchildren.
https://www.klenklaw.com/blog/pros-cons-spousal-limited-access-trust-slat/
Aug 25, 2016 · What is a Spousal Limited Access Trust? This post introduces you to the SLAT & explains some of the advantages & disadvantages of this estate planning tool.
http://internationalcounselor.com/Merric%20Law%20-%20Documents/spousalaccess2.pdf
a settlor creates a spousal access trust that must satisfy a support obligation of the settlor, part or all of the trust property will be brought back into the settlor's estate as a retained interest under Code Section 2036. Whether there is a support obligation depends on the classification of the distribution interest.
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