LayRoots

What is an irrevocable trust?

SLAT FAQs That Will Surprise You!

Colin and Shreya tackle frequently asked questions about Spousal Lifetime Access Trusts (SLATs). Discover what makes a trust irrevocable, how to achieve asset protection without estate tax benefits, and what types of assets can be gifted to a SLAT. Learn about the impact of divorce and spousal demise on SLATs and potential tax disadvantages. This episode is packed with vital information and a touch of humor to make complex legal concepts more digestible!

00:00 Introduction and SLAT FAQs Overview
00:11 Understanding Irrevocable Trusts in SLATs
00:44 Asset Protection vs. Estate Tax Planning
02:22 Types of Assets Suitable for SLATs
04:24 Impact of Divorce on SLATs
05:54 Tax Disadvantages of SLATs
06:19 Speculations and Legal Debates on SLATs
07:23 Conclusion and Final Thoughts

Are there any tax disadvantages to setting up a SLAT ?

What Is a JEST Trust and Should You Get One?

Join Shreya and Colin Ley as they delve into the fascinating world of the JEST (Joint Exempt Step-Up Trusts) and . Discover why this trust, created by very bright attorneys, is the asset protection and planning tool clients are raving about. Learn how it works in both community and non-community property states, offering significant benefits from asset protection to tax optimization. Perfect for those in need of a versatile and practical estate planning solution. Air guitars and motorcycles may or may not be involved.

00:00 Introduction to JEST Trusts
00:14 What is a JEST Trust?
00:31 Versatility and Asset Protection
01:32 JEST Trusts in Different States
02:28 Step-Up in Basis Explained
03:35 Asset Protection Benefits
04:25 Liability and Protection Scenarios
05:48 Estate Planning Optimization
06:16 How to Get Started with JEST

*** Grab our SLAT Planning Guide here: https://zurl.co/UvfNg ***

Being successful in America makes you a target for bogus lawsuits from shameless lawyers. We created an effective asset protection solution, so you don’t have to worry anymore, happily knowing your family’s future is protected. Get started now by scheduling a free, 30-minute call at https://zurl.co/RJn4x.

In this short, we continue to look at the importance of understanding the implications of a **step up in basis**. Many people don't realize that **estate planning** can significantly impact their **taxes**, especially when it comes to **capital gains**. Understanding the **tax implications** is very important.

*** Grab our SLAT Planning Guide here: https://zurl.co/BoBZM ***