SOC 2 Type II

A cybersecurity compliance standard that verifies an organization’s data security practices over a set period. It is especially important for SaaS and technology platforms handling sensitive client data.

Spendthrift Provisions

A spendthrift provision in a trust is a clause that protects a beneficiary’s inheritance from creditors, lawsuits, and the beneficiary’s own poor financial decisions. It restricts the beneficiary’s ability to transfer or pledge their interest in the trust and prevents creditors from accessing trust assets before they are distributed.

Spousal Lifetime Access Trust (SLAT)

An irrevocable trust that allows one spouse to make gifts for the benefit of the other while removing the assets from the taxable estate. It’s often used in wealth transfer strategies.