In this episode of the Power of Planning podcast, Attorney Vanessa J. Skinner spotlights two types of irrevocable trusts used for estate tax avoidance purposes that are especially popular given the impending sunset of the current historically high estate tax exemption amounts. In particular, she discusses the advantages and disadvantages of the spousal lifetime access trust (SLAT) and the irrevocable gifting trust. She also discusses the concept of the intentionally defective grantor trust, which enables the assets of an irrevocable trust to not be reduced by income tax.
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This podcast is designed to educate and empower listeners by offering a detailed discussion of the various legal considerations associated with the planning process for all different types of planning, including estate planning, government benefits planning, special needs planning, retirement benefits planning, asset protection planning, tax planning, charitable giving planning, Veterans benefits planning, and planning for lifetime incapacity.