ILS Speaker Series: Thirty-One Flavors of SLATs
February 11 @ 4:00 pm – 5:30 pm
Webinar Description
Spousal Lifetime Access Trusts (SLATs) have been part of the estate planning lexicon for years, but SLATs don’t come in just one flavor. Every SLAT is an irrevocable trust with the trust creator’s spouse as the primary beneficiary, giving the spouse access to trust assets during lifetime, but similarities end there. Each SLAT can – and should – be unique, with optional provisions included based on the client situation. Extensive options not only differentiate trusts to avoid the Reciprocal Trust Doctrine, but also allow nearly unlimited flexibility in SLAT design.
In this webinar, frequent commentators Jonathan Blattmachr and Martin Shenkman will discuss different features that can be added to SLATs. Some are designed to enhance the spouse’s access, address future changes in circumstances, bolster creditor protection, add income tax planning flexibility, and more. The speakers will also show how drafting software facilitates SLAT creation with multiple options available at the click of a mouse. Options we’ll discuss include:
- Lifetime and testamentary powers of appointment (at least 4 variations)
- Mechanisms to avoid inadvertent estate inclusion (at least 4 variations)
- Different mechanisms to trigger estate inclusion if circumstances change (at least 2 variations)
- Provisions to protect a SLAT that is later deemed to be self-settled by the grantor or the grantor’s spouse (many variations)
- Options to plan for early death of the spouse beneficiary (several)
- Making the SLAT a grantor trust (or not) (many variations)
- Planning for possible future marital discord (and for a new spouse) (several variations)
- Adding extra beneficiaries to reduce overall income taxation (so many variations)
SLAT drafters can combine options in multiple ways, resulting in far more than 31 flavors. Join us to review a plethora of SLAT design possibilities and when each might make sense for your clients.
InterActive Legal Speaker Series Presents
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Continuing Education Credits
InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.
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