Spousal Lifetime Access Trusts: Income, Gift, Estate, and GST Tax; State Limitations; Building in Powers and Options
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE course will guide trusts and estates counsel on leveraging spousal lifetime access trusts (SLATs) in estate planning in light of the current and ever-changing tax law. The panel will discuss critical issues concerning income, gift, estate, and GST taxes, including pitfalls to avoid. The webinar will explore SLAT basics, discuss how to design SLATs to incorporate flexibility to anticipate an ever-changing landscape as well as review the best way to minimize tax liability and ensure multi-generational gifting and flexible long-term planning.
Outline
- Considerations for the use of SLATs in estate planning
- Definition and key characteristics
- Benefits
- Potential drawbacks
- Access to SLAT assets
- Building in flexibility
- Critical tax considerations under the current tax regime
- Dual trusts (reciprocal trust doctrine)
- Funding the SLAT (including impact of joint property)
- SLATs as grantor trusts
- Divorce
- Other tax issues
- Alternative methods for multi-generational gifting and long-term planning
Benefits
The panel will review these and other key issues:
- What are the critical considerations for the use of SLATs in estate planning?
- How can you incorporate flexibility and options into your SLATs, and what are the pitfalls to avoid?
- What is the impact of joint property? What if the property is not held in the desired grantor's name?
- What tax issues arise in the use of SLATs under current tax law?
- How does a divorce impact SLATs?
- What are other methods available for multi-generational gifting and long-term planning?
Faculty
Diedre Wachbrit Braverman
Attorney
Braverman Law Group
Ms. Braverman practices in the areas of estate planning, special needs planning, asset protection, elder law and... | Read More
Ms. Braverman practices in the areas of estate planning, special needs planning, asset protection, elder law and business planning.
Close
Randi M. Grassgreen
Member
Hutchinson Black and Cook
Ms. Grassgreen has provided advice in the areas of sophisticated estate, wealth transfer, income tax and philanthropic... | Read More
Ms. Grassgreen has provided advice in the areas of sophisticated estate, wealth transfer, income tax and philanthropic planning to high net worth individuals for the past twenty-five years. She also provides counsel to entrepreneurs and business owners in structuring entities for tax and asset protection purposes and provides guidance on trust structure and assesses choice of trust situs. Ms. Grassgreen complements her practice by working with high-net-worth families sustain family wealth across generations and amplify impact through family governance best practices, next generation education and by serving in various advisory roles within their family structures. For the twelve years prior to joining HBC, she was a shareholder and Managing Director of Family Wealth Planning of Crestone Capital, a multi-family office headquartered in Boulder, and continues advising those families today. Prior to that, Ms. Grassgreen was a partner of the boutique estate and tax planning firm Gelt, Paddison & Grassgreen, P.C. in Denver, as well as held various senior tax roles as a CPA at Ernst & Young, L.P.
Close