Once Removed Episode 18: The Reciprocal Trust Doctrine
Once Removed Episode 12: SLATs and the Case of McKim vs. McKim
Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs
If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each...more
Trusts serve a variety of tax, asset protection and estate planning purposes for families, and over the years different types of trusts have evolved to best serve families’ planning needs and objectives. Each type of trust...more
You may have heard of Spousal Lifetime Access Trusts (SLATS) lately, especially if you have been thinking about using your federal estate and gift tax exemption before the current higher exemption amount of $13.61 million is...more
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...more
Steve Murphy, chair of the private wealth services practice group at McGuireWoods, discusses the Spousal Lifetime Access Trust, also known as the SLAT. Steve explains the rights that your spouse can have in this trust through...more
Florida’s newest trust laws taking effect this summer are turning up the heat in what is already a hot estate planning scene. With the federal estate and gift tax exemption for U.S. citizens and U.S. domiciliaries at a...more
Under the Tax Cuts and Jobs Act, in 2020 each person may transfer up to $11,580,000 without incurring a gift or estate tax. This generous exemption amount will sunset at the end of 2025, which means that in 2026, the...more