SLAT
Law & Legal abbreviation · Estate and Family Law
| Stands for | Spousal lifetime access trust |
|---|---|
| Categories | Law & Legal |
SLAT stands for Spousal lifetime access trust, an estate and family law abbreviation.
Irrevocable trust created by one spouse for the benefit of the other spouse, and often the children, that removes assets from the grantor's taxable estate while allowing indirect access through the beneficiary spouse. SLATs became popular for locking in large federal estate tax exemptions.
Example: Before year-end, each spouse funded a SLAT for the other with $5 million in investments.
Usage notes
The main risks are divorce or the beneficiary spouse's death, either of which can cut off the grantor's indirect access. When spouses create SLATs for each other, the trusts must differ enough to avoid the reciprocal trust doctrine. Many are sited in states with favorable trust laws.
Related abbreviations
More estate and family law abbreviations
- QDOT – Qualified domestic trust
- QDRO – Qualified domestic relations order
- QPRT – Qualified personal residence trust
- QTIP – Qualified terminable interest property
- RLT – Revocable living trust
- SAPCR – Suit affecting the parent-child relationship
- SNT – Special needs trust
- TIC – Tenants in common
- TOD – Transfer on death
- TPR – Termination of parental rights
- TTEE – Trustee
- U/A – Under agreement
See all 50 estate and family law abbreviations →
This entry is for general education and is not legal advice. Abbreviation use varies between institutions; always confirm in context.