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[quote=Anonymous][quote=Anonymous][quote=Anonymous][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]

We have a SLAT. So long as the grantor is alive (my husband), it is a grantor trust, so everything is taxed to him personally. Once he dies, the trust stands on its own. I am the trustee and a beneficiary and can access the money. This all works so long as we stay married. [/quote]

What happens in a divorce? It gets split 50/50? [/quote]

By the sound of it, nope. The assets are in a trust protected from ex-wives and creditors while giving grantor access to the money. Once divorced, the ex-spouse no longer has legal access to the trust. Win-win for the fella![/quote]

Opposite, more like an IR Trust protects in-place beneficiaries from future wives and future kids.

The court process to change IRs is costly and time consuming. And might result in no change. [/quote]

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