INGs: Extraordinary Planning Tool to Reduce Income Tax Even for Those in Income Tax Free States
November 15, 2018
Speakers: William Lipkind, Esq., Martin Shenkman, Esq. and Jonathan Blattmachr, Esq. Sponsor: Peak Trust Company and Interactive Legal Systems. Course Description: Incomplete Non-Grantor Trusts (ING Trusts) have the potential to save tremendous state income tax. They are complicated to understand, but they are worth it to you and your clients. This webinar will explain them in detail: how they work; why they work; and how to structure them. They can even be used to preserve the "double step up in basis" when funded with community property, including Alaskan community property. They can help garner additional benefits under IRC Section 199A and preserve large deductions for state and local income tax (above $10,000 annually). They also can allow a taxpayer to use the standard deduction while getting the benefit of a full deduction for charitable contributions. Even though New York has tried to "outlaw" ING Trusts, you will learn how they can even work for many in that state. That knowledge will help practitioners in all states better understand the new application of INGs post the 2017 Tax Act. A practical and valuable webinar by Marty Shenkman, Bill Lipkind and Jonathan Blattmachr, all who have developed and used ING trusts extensively and combined have received the vast majority of ING trust private rulings. Sponsored by Peak Trust Company and Interactive Legal Systems. There are no professional advancement credits (CPE, CLE, etc.) offered for viewing this webinar.