Spousal Lifetime Access Trust (SLAT) Template

What Is the Spousal Lifetime Access Trust Template?

A Spousal Lifetime Access Trust is an irrevocable trust that removes assets from your estate for tax purposes while allowing your spouse to benefit from those assets during their lifetime. You transfer property to the trust, permanently removing it from your taxable estate, while your spouse receives distributions for their health, education, maintenance, and support. Upon your spouse's death, assets pass to your chosen beneficiaries according to your instructions or your spouse's limited power of appointment.

This template addresses the fundamental estate tax planning challenge: reducing your taxable estate without losing all access to your wealth. The 2025 federal estate tax exemption is scheduled to drop significantly in 2026, making lifetime gifting strategies increasingly valuable for high-net-worth families. A properly structured SLAT allows you to use your current exemption while maintaining indirect access through your spouse, balancing tax efficiency with practical family needs.

 

 

Is This Spousal Lifetime Access Trust Right for You?

You need this trust if you're:

• Reducing estate tax exposure while preserving spousal access to assets
• Using your lifetime gift tax exemption before the 2026 reduction
• Creating an irrevocable trust that provides distributions to your spouse
• Protecting assets from estate taxes without cutting off family access
• Establishing trusts that continue for children after your spouse's death
• Balancing tax planning with maintaining family standard of living

You definitely need this trust if:

• Your combined estate exceeds the federal exemption amount now or after 2026
• You're creating lifetime access for your spouse while protecting assets from taxes
• You need irrevocable trust provisions that prevent estate inclusion
• Your attorney recommended a SLAT but quoted $5,000+ for drafting
• You're planning to transfer significant assets before exemption reductions take effect

 

 

Why Thousands Trust Legal GPS Templates

Save Money: Attorneys charge $3,500-$7,500 to draft a SLAT. This template costs $35.

Save Time: Download immediately and customize in under two hours instead of waiting weeks for attorney drafting.

Look Professional: Attorney-quality language courts and financial institutions recognize and accept without question.

Keeps You Out of Court: Comprehensive spendthrift provisions, divorce protections, and prohibited transaction language prevent estate inclusion problems and protect assets from your spouse's creditors.

 

 

 

Get Protected in 3 Simple Steps

Step 1: Secure Checkout

Complete your purchase through our encrypted payment system. Your template downloads immediately.

Step 2: Instant Download

Receive your attorney-drafted SLAT template in Microsoft Word format, ready for customization.

Step 3: Fill In the Highlighted Fields

Follow the bracketed guidance to select distribution standards, name your trustee and successors, choose beneficiary provisions, and customize terms to match your estate plan. Consult with an estate planning attorney to ensure proper execution and funding.

 

Frequently Asked Questions

Can I use this template multiple times?

Yes. Your purchase includes unlimited use rights. Create SLATs for different family members, modify terms for changed circumstances, or adapt the structure for similar irrevocable trusts. Most families create one SLAT per married couple, though some estate plans involve multiple trusts for different asset types or planning objectives.

Is this trust legally binding?

Yes. This template uses the same legal language and structure attorneys use when drafting SLATs for clients. Courts and financial institutions recognize properly executed SLATs as legally enforceable irrevocable trusts. Because SLATs have significant tax implications, consult an estate planning attorney to review your completed trust, ensure proper execution with required formalities, coordinate with your overall estate plan, and file appropriate gift tax returns when funding the trust.

Can I change the trust after I sign it?

No. The SLAT is irrevocable by design—that's how it removes assets from your taxable estate. You cannot amend, modify, or revoke the trust after execution. This permanence is essential for tax benefits but requires careful initial planning. Build flexibility through your choices on distribution standards (ascertainable standard vs. discretionary), power of appointment provisions (allowing your spouse to redirect assets after their death), and beneficiary designation options (continuing trusts vs. outright distributions).

What happens if my spouse and I divorce after creating the SLAT?

The template includes three options for divorce provisions. You can allow the trust to continue unchanged (preserving the irrevocable nature but benefiting your ex-spouse), grant the trustee discretion to terminate the trust within 90 days of divorce, or mandate automatic termination distributing assets to remainder beneficiaries. Most families choose discretionary or automatic termination to prevent ex-spouses from benefiting, though this creates some legal uncertainty about estate inclusion. Your estate planning attorney should discuss these options based on your specific circumstances and risk tolerance.

Can my spouse serve as trustee of the SLAT?

Yes, with restrictions. If your spouse serves as sole trustee, distributions to your spouse must be limited to an ascertainable standard (health, education, maintenance, support) to avoid estate inclusion. Alternatively, your spouse can serve as co-trustee with an independent trustee who makes all distribution decisions affecting your spouse. The template includes provisions for both structures. If you want wholly discretionary distribution authority without ascertainable standard limitations, your spouse cannot serve as trustee—you'll need an independent trustee or corporate fiduciary.

How does a SLAT differ from a regular revocable living trust?

A revocable living trust provides probate avoidance and incapacity planning but offers no estate tax benefits—the assets remain in your taxable estate because you retain full control. A SLAT is irrevocable and removes assets from your estate by transferring ownership to the trust permanently. You cannot serve as trustee, cannot access assets directly, and cannot change the terms. The tradeoff: significant estate tax savings in exchange for loss of control. Your spouse's access provides the indirect benefit that makes the arrangement workable for married couples.

Do I need to file a gift tax return when I fund the SLAT?

Yes. Transferring assets to the SLAT constitutes a completed gift to your spouse and remainder beneficiaries. You must file Form 709 (United States Gift Tax Return) for the year you fund the trust, even if you owe no gift tax due to your lifetime exemption. Filing the return starts the statute of limitations running for IRS valuation challenges—without a filed return, the IRS has unlimited time to question your asset valuations. Your tax advisor should prepare Form 709, value the transferred assets, make appropriate elections (including GST exemption allocation if applicable), and ensure proper reporting to protect the tax benefits that justify creating the SLAT.