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Estate Planning Techniques Regarding Spousal Lifetime Access Trust

Fundamentals of Spousal Lifetime Access Trust planning.Estate planning has progressed well beyond the basic will and powers of attorney. Use of trusts permit detailed and comprehensive planning. Of course, there are many purposes and types of trusts that can be immediately funded during the lifetime of the property owner that will both shield the assets against creditors and still permit a married couple to enjoy the use and income from property. This can be accomplished in every state, not just those domestic assets protection trust states (DAPT states) that permit self-settled trusts. Trusts that name the spouse as the beneficiary (and even with the spouse as trustee to retain control of the property) can be immune from creditors of both spouses. In addition, trusts can be designed to avoid estate tax as well as be surprisingly adaptable and changeable. The topic and materials will describe the issues, opportunities, and methods to maximize the use of trusts to accomplish the above, and sidestep the many pitfalls that could defeat a well-intentioned plan.
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Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction to Spousal Lifetime Access Trust (SLAT) Planning
  • Desires and Purposes
  • General Tax Issues
  • General Trust Principles
  • General Creditors Rights Principles
Optimum SLAT Plan
  • Description
  • Income Tax Hurdles and Results
  • Estate, Gift, and GST Tax Hurdles and Results – Possible Limitations Under State Law
  • Rights of Donor Spouse to Assets After Donee Spouse
  • State Law Differences
Building in Options and Powers
  • Powers of Appointment
  • Creditor Concerns
  • Tax Concerns and Opportunities
  • Modification of Trust Terms After Creation
Modifying Broken Trusts or for Change in Circumstances – Tax and Nontax Reasons
  • Different Problems Described
  • Trustee and Trust Protector Powers
  • Common Law Methods
  • Uniform Trust Code – Nonjudicial Settlement Agreements
  • Decanting
  • Tax Consequences and Planning
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Gregory V. Gadarian

Gregory V. Gadarian

Gadarian & Cacy, PLLC

  • Partner in Gadarian & Cacy, PLLC in Tucson, Arizona
  • Has been admitted to the State Bar of Arizona and the State Bar of Florida
  • From 1978 - 1980 he was a legislation attorney on the staff of the Joint Committee on Taxation, U.S. Congress
  • Prior to that, he was an attorney-advisor to Judge Cynthia H. Hall of the U.S. Tax Court
  • Former chair of the Fiduciary Income Tax Committee and former Arizona State chair of the American College of Trust and Estate Counsel, and is an adjunct professor at the University of Arizona College of Law
  • L.L.M. degree in taxation, New York University; J.D. degree, cum laude, Northwestern University School of Law; B.A. degree, Northwestern University
Les Raatz

Les Raatz

Dickinson Wright PLLC

  • Member of the law firm of Dickinson Wright PLLC in Phoenix
  • Practices primarily in the areas of estate planning, probate and trust administration, divorce tax and asset planning, and entity structuring, and taxation
  • Has significant experience representing thousands of business clients and their families in connection with estate and tax planning
  • National author and speaker at numerous seminars on areas of income, estate and gift taxation, probate and trust issues, and selection of business entities, and has been engaged as an expert witness in numerous tax and estate and trust related matters
  • Listed as Best Lawyers “Lawyer of the Year – Trust and Estates” in Phoenix for 2016, 2018 and 2020; also listed in Southwest Superlawyers in the fields of tax, estate planning & probate, estate & trust litigation and listed in Chambers and Partners - high net worth field
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Product ID: 405510
Published 2020
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