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Articles Posted in Incomplete gift tax trust

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The Nonresident ING Fling Dinged: California Closes the Incomplete Gift Tax Trust “Loophole”

The Issue After years of wrangling with the issue, California has just enacted legislation to eliminate a state income tax savings strategy some California residents have pursued by establishing a non-grantor gift trust (ING). These trusts are often called WINGs, DINGs, and NINGS, a reference to the three states that…

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