Tag: Spousal Lifetime Access Trust
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Drafting Trusts for Lifetime Gifting in InterActive Legal
Estate planning often focuses on where property passes at death, either via a revocable trust or a last will and testament. In some cases, however, a client may want to make gifts of property during lifetime, or they may be advised to do so for various reasons. Those lifetime gifts could be made outright, but…
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Back Door Slats – Issues When the Grantor Becomes a Beneficiary or Appointee
Spousal Lifetime Access Trusts (“SLATs”) are ubiquitous in estate planning. As clients plan to use the exemption before it is reduced by half in 2026, the issue of access to SLAT assets is key. Those with sufficient wealth may avoid any form of access. But for most clients some type of access is essential to…
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Heckerling Themes and Takeaways: Reviewing the Most Important Topics Discussed at the 2023 Institute
The Heckerling Institute on Estate Planning is the country’s largest and leading conference for estate planners, attorneys, trust officers, accountants, financial planners, insurance advisors, and wealth management professionals. Following the 57th Annual Institute held on January 9-13, 2023, InterActive Legal will bring to you our annual review and analysis of the week-long proceedings. This year’s review…
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Drafting the Standard Irrevocable Trust in InterActive Legal
Each InterActive Legal practice system provides subscribers with the ability to draft at least one type of “irrevocable trust.” All systems contain the standard Irrevocable Trust, which can serve multiple purposes, and will be the primary focus of this drafting webinar. The Irrevocable Trust is the document typically used to create an Irrevocable Life Insurance…
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Year-End 2022 Estate Planning
Year-end tax planning for 2022 is different from prior years. Practitioners might recommend traditional annual gift planning but for some (perhaps many) clients, annual gifts may not be worthwhile.
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Spousal Lifetime Access (SLATS) Can Succeed
This video clip discusses the reality of SLATs and how to use them successfully.
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Current SLAT Planning Ideas to Better Serve Clients, SECURE Exemption, and More!
Asset protection planning remains vital for many if not most clients. For the past few years, clients have been hyper-focused on planning for tax changes that have not happened, practitioners should re-focus clients on the importance of asset protection planning. Irrevocable trust planning to use current exemption before the exemption is cut in half in…
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Drafting SLATs in InterActive Legal
With the federal estate and gift tax exemption poised to drop dramatically in 2026, if not sooner, a popular strategy for using the high exemption before it drops involves creating a trust for the grantor’s spouse. Such a trust is sometimes called a Spousal Lifetime Access Trust, or “SLAT,” and SLATs can be drafted in…
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Administration of Irrevocable Trusts: Practical Tips for Practitioners
How can practitioners (CPAs, wealth advisers, attorneys, and insurance consultants) assist clients in the operation and administration of irrevocable trusts? What preliminary steps might be helpful to take to guide clients on proper trust administration? How can advisers facilitate more accurate and efficient trust administration? In this webinar, specific practical steps practitioners can use will…
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Understanding Life Insurance: And No, It is Not Boring: Practical Discussion of Insurance Fundamentals and Practical Planning
Life Insurance is a ubiquitous asset that has unique features and is uniquely (and favorable) treated under many legal systems, including for bankruptcy and for tax purposes. It is also one of the least understood properties with which Americans and their advisors face. This webinar with cover how life insurance is structured, priced and taxed.…
