Spousal lifetime access trusts as a key technique for estate planners

There is a type of trust for your clients that can be set up where your client can transfer assets and not only protect them from creditors and estate tax, but also have access to them through your spouse. 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 types of SLATs