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What is a Spousal Lifetime Access Trust? - Seth Schlessel
From Schlessel Law PLLC – In this podcast episode, we explore the article "What is a Spousal Lifetime Access Trust?" and break down this powerful estate planning tool designed to protect your wealth while providing financial security for your spouse. A Spousal Lifetime Access Trust (SLAT) is an irrevocable trust that enables a grantor to transfer assets into a trust, leveraging the benefits of the federal lifetime gift exemption to reduce the taxable estate and minimize estate taxes.In our discussion, we detail how the SLAT functions by allowing the non-grantor spouse to receive distributions…
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