Steve Murphy, chair of the private wealth services group, dives deeper into the subject of SLATs in this episode. SLATs can work well with estate tax benefits and creditor protection benefits, all while giving the spouse access, flexibility, and control. But in the event of death or divorce, suddenly some of those advantages evaporate. To explain this, Steve explores the case of McKim vs. McKim, which presents a challenging situation where the husband set up a SLAT with his wife as beneficiary and trustee however, they divorced.
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