How the recent CA anti ING trust legislation impacts planning {PFP Section}
AICPA Personal Financial Planning (PFP) · Steve Oshins, JD, LLM and Bob Keebler, CPA/PFS
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Show Notes
CA recently passed legislation disallowing ING trusts by treating them as grantor trusts for state purposes retroactive to January 1, 2023. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Steve Oshins, JD, LLM, to guide CPA financial planners on how to rectify this situation. They discuss:
- What are ING trusts and why are they used in planning for clients?
- What does the CA legislation allow and not allow going forward?
- How to pivot to a different technique that still allows for impactful results?
- Planning opportunities that may be being missed in NY where INGs were disallowed beginning in 2014.
- What needs to be done now?
For more resources related to this episode, access:
- The Proactive Planning Toolkit, exclusive to PFP Section members
This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.
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