What Is a Spousal Lifetime Access Trust or SLAT? | RMO Lawyers скачать в хорошем качестве

What Is a Spousal Lifetime Access Trust or SLAT? | RMO Lawyers

What Is a Spousal Lifetime Access Trust or SLAT? In this video, we explain what a Spousal Lifetime Access Trust (SLAT) is and how it can be used as an estate planning tool to transfer wealth while still allowing a spouse limited access to those assets. SLATs are often used to reduce estate tax exposure, protect assets from creditors, and provide flexibility for married couples who want to preserve financial security while planning for the future. FULL ARTICLE: https://rmolawyers.com/blog/the-ultim... Timestamps: 0:00 Introduction 0:18 What is a Spousal Lifetime Access Trust? 1:05 How does a SLAT work? 2:15 Benefits of a SLAT 3:05 The reciprocal trust doctrine 4:00 Can a SLAT be contested? 5:15 Who can contest a SLAT? 6:05 When to consult a trust attorney Frequently Asked Questions: What is a Spousal Lifetime Access Trust? A SLAT is an irrevocable trust where one spouse (the grantor) creates the trust for the benefit of the other spouse (the beneficiary). The beneficiary spouse has limited access to trust assets, which helps protect those assets from creditors and estate taxes while still allowing indirect financial support. What are the benefits of a SLAT? SLATs let married couples take advantage of the high gift tax exemption, remove assets from the taxable estate, and still maintain access through the beneficiary spouse. They can also provide income to the grantor’s descendants. What is the reciprocal trust doctrine? If each spouse creates a SLAT for the other, the trusts must be structured differently. If they are too similar, the IRS may consider the trusts “reciprocal,” which could result in trust assets being included in the taxable estate. Can a SLAT be contested? Yes. A SLAT can be challenged on legal grounds such as undue influence, duress, lack of mental capacity, or fraud. If proven, these claims can result in the trust being declared invalid. Who can contest a SLAT? Only individuals with legal standing—typically beneficiaries, trustees, or others with a property interest affected by the trust—can contest a SLAT in California. Do I need an attorney to contest a SLAT? While not legally required, trust contests are complex. An experienced trust litigation attorney can evaluate your case, determine your standing, and advise you on the best legal strategy for challenging the SLAT. About RMO Lawyers: RMO LLP serves clients throughout California and Texas, with offices in Los Angeles, Orange County, San Diego, Fresno, Pasadena, the Bay Area, Dallas, and Houston. We are laser-focused on guiding our trustee, executor, beneficiary, heir, conservator, and guardian clients through some of the most complex and emotionally charged issues life can throw them. Our commitment to helping our clients achieve results that not only add to their bottom line but to their peace of mind is at the core of everything we do. That’s RMO. Have questions? At RMO, we protect people like you every day. Learn more: https://rmolawyers.com/services/trust... Call (424) 320-9444 or email hello@rmolawyers.com Connect With RMO Lawyers YouTube:    / @rmolawyers   Facebook:   / rmolawyers   Instagram:   / probateandtrustlitigators