IRS Approves Another #NING trust

On March 7 the IRS in PLR 201410010 approved another “NING” trust (Nevada Incomplete Gift Non-Grantor Trust), which is incomplete for transfer tax purposes while remaining a non-grantor trust for income tax purposes.  This trust, with grantor as beneficiary, allows a non-Nevada residents to benefit from Nevada’s income tax and property laws, avoiding both gift tax and their own state’s income tax.

The original ruling approving the NING was last year’s PLR 201310002.  (The NING idea originated with Delaware’s DING, but takes advantage of Nevada’s status as the current first choice for Domestic Asset Protection Trusts.)

*****

This is general information for educational purposes, not to be relied on as specific legal advice.

Attorney engagement is by written agreement only.  Licensed in CA & WA.  Contact an attorney licensed in your jurisdiction.

Connect with Dave Duringer: http://youtube.com/LawNews http://twitter.com/guntrust http://pinterest.com/guntrust http://facebook.com/guntrust http://facebook.com/LivingTrust Free training: http://guntrust.org

Questions? Visit http://OrangeCountyLivingTrust.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s