Using a WING to Avoid State Income Tax on a Sale of Assets
By EsqSocial Corporation 26/01/21
One strategy for a client who wants to avoid state income tax on a sale of assets is to utilize a WING, a Wyoming Incomplete Gift, Non-Grantor trust (“WING”). Certain other states allow ING trusts, but this blog post refers specifically to the ING trust in Wyoming, or the WING. It is a self-settled irrevocable trust that is designed, as the name suggests, for the assets gifted to the trust to be an incomplete gift for transfer tax purposes....
By: Holland & Hart - Fiduciary Law Blog