Advisor Newsletter Series

Working to Better Serve Our Clients

Summer 2017 NYLA Newsletter Thumbnail

State income tax planning with incomplete gift non-grantor trusts.

With anticipated decreases in federal income tax rates and relatively few taxpayers facing a federal estate tax liability, tax planners are increasingly turning their focus to strategies for reducing state income taxes. Incomplete gi non-grantor trusts, or ING trusts, are becoming an increasingly popular tool. ING trusts may be ideal for residents of states with high income tax rates who own income producing assets or certain types of highly appreciating assets that they plan to liquidate.

Read More »

Confused by the possible repeal of the estate tax and the future direction of estate planning? Don’t be.

Tax reform, including elimination of transfer taxes (estate, gift, and generation-skipping transfer taxes), is currently a hot topic in Washington. The party in control of both houses of Congress and the presidency campaigned on a platform that calls for eliminating the estate tax. Several bills have been introduced this legislative session to do just that.

Read More »

Planning issues and considerations for non-U.S. citizens.

Many U.S. businesses utilize H1B, L-1A and other visa programs to fill needs for specialty occupations. As such, more and more people, as well as their spouses, children and other close family members (such as a parent who accompanies the nuclear family), are not U.S. citizens. Planning for non-U.S. citizens is more complicated than planning for U.S. citizens. This provides a competitive advantage to the financial professional who becomes educated on estate planning for non-U.S. citizens.

Read More »