Spousal lifetime access trusts – How couples can lock in gift and estate tax exemptions

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Abstract: Affluent married couples may want to take advantage of the record-high federal gift and estate tax exemption before it disappears, yet might not be ready to part with their wealth. This article explores an option in this situation: the spousal lifetime access trust (SLAT). SLATs allow couples to leverage the current exemption amount while retaining access to trust assets. A sidebar explains the mutually beneficial concept of “his and her” SLATs.