Deep dive into Spousal Lifetime Access Trusts (SLATs), covering tax benefits, setup guidance, and real-world examples for estate planning.
This presentation provides a comprehensive overview of the Spousal Lifetime Access Trust (SLAT) and its practical applications in estate planning. Attendees will gain insights on spotting opportunities for SLAT implementation, along with step-by-step guidance on structuring the trust to achieve various tax objectives, such as setting up SLATs as either complete or incomplete gifts for gift tax purposes. Additional topics include designing SLATs with creditor protection as a primary objective, understanding the tax implications of SLATs, and exploring funding methods when community property assets are involved. Real-world examples will illustrate how to approach different SLAT structures, enhancing participants’ ability to tailor trust planning to meet clients’ specific needs.
Learning Objectives
- You will be able to define Spousal Lifetime Access Trust (SLAT).
- You will be able to describe how the SLAT is generally taxed for income purposes.
- You will be able to SLATs to clients.
- You will be able to identify when to use each different SLAT version.
Agenda
Spousal Lifetime Access Trust Aka (SLAT)
- Spotting Opportunities to Use Them
How to Explain SLATs to Clients
- Explore How to Set One up and Where You Want the Gifts to Be Completed for Gift and Estate Tax Purposes
- Go Through Details of How to Design the SLAT If You Want to Avoid a Completed Gift for Gift Tax Purposes
When to Use Each Different SLAT Version
- Get Examples Illustrating How to Design the Trust Where Creditor Protection Is the Primary Objective
How the SLAT Is Generally Taxed for Income Tax Purposes
- Funding Techniques When the Assets Are Primarily Community Property
Speakers
Vanessa M. Terzian,
Lagerlof, LLPPartner at Lagerlof, LLP
Specializing in estate planning, trust administration and probate
Adjunct professor of trust and wills, Southwestern Law School
Rising Star, Super Lawyers, 2015 - 2017
Wrote “Trustee’s, Executors and Beneficiaries”, published by the Institute for Preparing Heirs
Active member of the California State Bar and member of the Trusts and Estates section
J.D. degree, dean's honors and recipient of dean's full tuition academic scholarship, Loyola Law School; B.A. degree, magna cum laude, UCSD
Can be contacted at 626-683-7234, vterzian@lagerlof.com or lagerlof.com
Who Should Attend
This live webinar is designed for attorneys, financial and estate planners, accountants, CPAs, business owners and managers, presidents, vice presidents, insurance professionals, bankers, and trust officers.
