Planning With Divorce in Mind
Spousal lifetime access trusts (SLATs) allow affluent married couples to transfer substantial wealth for the benefit of children, grandchildren and future generations while maintaining a degree of access to and limited control of gifted assets. Generally, SLAT planning is undertaken by clients in stable marriages. However, even with the seemingly strongest marriage, a thoughtful discussion regarding how a future ex-spouse’s rights and powers will be addressed in the event of divorce is vital.1 Clients must understand the issues that may arise, the available planning options and the implications of each. At heart, a potential divorce is a delicate and emotionally charged discussion that clients may hesitate to engage in.
Although many pote…
