White Paper

18 Pages
  • 18 Pages

Spousal Lifetime Access Trust

 

Learn more about this popular estate planning device.

The Spousal Lifetime Access Trust contains provisions where one spouse creates a trust for the benefit of the other. That spouse has a right to income or perhaps a right to distributions for her health, education, maintenance and support (HEMS right) and may have an annual noncumulative (use it or lose it) 5% right of withdrawal, as well as a special power of appointment. This white paper discusses details about this type of trust as well as estate tax issues that may occur.