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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you have an irrevocable trust, how did you decide how much to transfer into it? What percentage of your NW did that represent? Thank you. [/quote]

My siblings and I are beneficiaries on a pair of irrevocable SLATs our parents set up for one another. Their goal was to fill each one to the maximum lifetime gift limit ($13.6M or so) and then let those assets grow in an estate tax sheltered fashion. I believe you can even pay taxes on gains made within the trust from money outside the trust.

I’m no expert but something to look into as you can put money away while still having access to it if you need down the line (with some restrictions but you don’t run the risk of giving away too much and going broke)[/quote]

My parents set up a SLAT and it makes me very nervous. If the beneficiary spouse dies unexpectedly early, I think we the downstream beneficiaries would just end up paying money back to the donor spouse, depending on the state of other assets. Not that we wouldn’t happily do that but you throw in dementia or a horrible new spouse and any family could end up strained. [/quote]

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