For married couples seeking tax savings and lifetime access to cash, a spousal lifetime access trust (SLAT) has become increasingly popular in estate planning in recent years.
The SLAT—the spousal lifetime access trust– is creating positive buzz because it combines the estate tax savings of an ILIT used for life insurance, but with lifetime access to tax-advantaged cash value inside a quality life insurance policy.
Rather than tying up money irrevocably, the SLAT offers the spouse lifetime income on a tax free basis, while providing exceptional estate planning and asset protection benefits.
Steve and Doc break it down in Segment 2. In the Q & A segment, estate planning attorney Richard Dwornik joins the A-Team to continue the analysis of the SLAT.