Using SLAT for retirement planning—any one have one? (insurance, IRA, taxable)
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Our investment advisor is very concerned that Biden’s admin will allow the current 22M+ estate threshold for married couples expire in 2026 or reduce the individual exemption from current 11M+ to something much lower.
He is suggesting we start two SLATS, one for my husband and one for myself that the OTHER spouse contributes to, to avoid a high estate tax after we both die...
Anyone have actual experience with a SLAT? Once gifted the trust is irrevocable...
It sounds complicated. And I
My husbands’s IRA is probably half our estate and he can’t do anything with it as long as we are married as I understand it...
Yes, SLATs are reasonable planning vehicle. But note that an investment advisor isn't the person from whom you should take estate planning advice; you should seek out an estate planning attorney. You'll need to "take a number" as estate planning attorneys have been extraordinarily busy for obvious reasons.
Yes, SLATs are reasonable planning vehicle. But note that an investment advisor isn't the person from whom you should take estate planning advice; you should seek out an estate planning attorney. You'll need to "take a number" as estate planning attorneys have been extraordinarily busy for obvious reasons.
Remember, The donor spouse's transfer of assets to the SLAT is considered a taxable gift.
But against a lifetime threshold at this time of 11million lifetime
And yes, our FA told us we would get an estate attorney to draw us these trusts
We already have an insurance trust for our adult daughter set up
I think we have too much community property vs individual property
And trying to establish individual property to make it worthwhile is just more ompliation
Last edited by loves2read; 03-25-2021 at 11:22 AM..
Our investment advisor is very concerned that Biden’s admin will allow the current 22M+ estate threshold for married couples expire in 2026 or reduce the individual exemption from current 11M+ to something much lower.
He is suggesting we start two SLATS, one for my husband and one for myself that the OTHER spouse contributes to, to avoid a high estate tax after we both die...
Anyone have actual experience with a SLAT? Once gifted the trust is irrevocable...
It sounds complicated. And I
My husbands’s IRA is probably half our estate and he can’t do anything with it as long as we are married as I understand it...
I am not sure what you mean he can't do anything with it so long as you are married. Right now if he choses he can name the SLAT the beneficiary of the IRA.
They have become more common, but they are not without problems. Be sure if you are setting them up, the funds belong solely to each of you before depositing them in a trust and be very careful regarding named beneficiaries. For example, say one of you were to decide to gift a grandchild for their birthday every year with the funds from interest only. The other spouse, might make a more specific gift using only principal. IF the IRS suspects you are just trying to protect assets they can and will hit you with estate taxes.
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