The Spousal Lifetime Access Trust

By Steven J. Oshins, Esq., AEP (Distinguished) Imagine that there is a type of trust that you can set up where you can transfer assets and not only protect them from creditors and estate tax, but also have access to them through your spouse.  No, this is not a hypothetical world where there are rainbows and unicorns!  This world really does exist! This trust is often called a Spousal Lifetime Access Trust, or “SLAT” for short.  Most people are aware of the completed gift version where estate tax avoidance is the primary motivating factor.  However, there are really two different…