INGs are a hot income and estate tax planning tool. INGs are intentionally non-grantor trusts (or Irrevocable Non-grantor Trusts). They can avoid state income tax (although New York can be a bit finicky). And while we’re chatting there are other approaches to non-grantor trusts and even non-grantor trusts that might serve you better. Another ING-er called insisting he needed an ING to save state income taxes but that he absolutely did not want to address estate planning.

Source: Forbes December 20, 2018 14:15 UTC