Bradenton Spousal Lifetime Access Trust Lawyer
A Spousal Lifetime Access Trust (SLAT) is a powerful estate planning tool that allows married couples to transfer wealth while maintaining access to the trust’s assets indirectly through the spouse. At Drude Tomori Law, we assist individuals and families in leveraging SLATs to reduce estate taxes, protect assets, and achieve financial security. Contact our Bradenton spousal lifetime access trust lawyer today to discuss how a SLAT may fit into your comprehensive Florida estate plan.
What Is a Spousal Lifetime Access Trust?
A Spousal Lifetime Access Trust is an irrevocable trust created by one spouse for the benefit of the other. The settlor transfers assets to the SLAT, removing them from their taxable estate while still allowing the beneficiary spouse to access the trust’s funds.
Key features of a SLAT include:
- Irrevocability: Once established, the trust cannot be revoked, ensuring the assets are protected and no longer part of the settlor’s estate.
- Tax Benefits: Transferring assets to the SLAT can reduce estate tax liability and utilize the settlor’s lifetime gift tax exemption.
- Asset Protection: Assets in the SLAT are shielded from creditors and lawsuits, offering financial security for the beneficiary spouse.
SLATs are particularly beneficial for high-net-worth individuals seeking to preserve wealth and reduce tax burdens.
How Drude Tomori Law Can Assist With SLATs in Bradenton
At Drude Tomori Law, we take a comprehensive approach to estate planning, ensuring that your SLAT aligns with your goals and integrates seamlessly with your overall plan. Our services include:
- Designing a Customized SLAT: Tailoring the trust’s terms to meet your unique needs and priorities, including selecting a trustee and defining distribution terms.
- Asset Transfers: Assisting with the proper funding of the SLAT, including the valuation and transfer of assets.
- Tax Planning: Advising on the tax implications of creating a SLAT and maximizing the benefits of your lifetime gift tax exemption.
- Coordination with Other Strategies: Ensuring the SLAT complements other trusts, wills, and estate planning tools.
We are here to guide you through every step of the process, making it as straightforward and efficient as possible. Drude Tomori Law is committed to providing exceptional service and innovative solutions for clients in Bradenton and beyond. When you work with us, you can expect personalized attention, deep expertise, and ongoing support. We take the time to listen to your concerns and tailor strategies to meet your specific goals. Beyond what many estate planning attorneys provide, our team has extensive experience with complex estate planning tools like SLATs. Your financial security and peace of mind are our top priorities. We help you maintain and adapt your SLAT as laws and circumstances change over time.
Contact a Bradenton Spousal Lifetime Access Trust Lawyer Today
If you’re considering a Spousal Lifetime Access Trust as part of your estate plan, Drude Tomori Law can help you understand how advanced tools like these can help you achieve your goals. Call us at 727-300-8900 or contact us online to schedule a consultation. Let us help you preserve your wealth and protect your family’s future.
