With the approximately $13,000,000 per-person lifetime gifting exclusion amount (and the strong possibility of it being reduced in 2026), many wealthy taxpayers would be well-served to take advantage of this wonderful opportunity by making lifetime gifts.
A popular mechanism available to married clients for lifetime gifting is the use of a Spousal Lifetime Access Trust (a "SLAT" for short), where an irrevocable trust is established for the benefit of the donor's spouse and other desired beneficiaries. The SLAT can provide immense flexibility and benefits, although the design and implementation of a SLAT requires careful consideration of a variety of factors in order to help assure that the SLAT achieves its desired objectives.
This presentation discusses the purposes for which a SLAT is used, design elements that may be incorporated into a SLAT, and tricks and traps associated with implementing a SLAT structure.
SPEAKERS
- Christopher J. Denicolo, Gassman Crotty & Denicolo PA, Clearwater, FL
PRODUCED
Session from 22nd Annual North Carolina/South Carolina Tax Section Workshops, May 26–28, 2023
APPROVED CREDIT
North Carolina: 0.75 MCLE Hours
PROGRAM PRICING
See pricing below.
Access to the program and content expires ninety (90) days from the date of purchase.
