Sorry, California: INGs Are No Longer an Option—How Will This Impact You?

tax forms on table with black coffee mug on the side

California Governor Gavin Newson recently signed legislation that treats incomplete gift nongrantor trusts (INGs) as grantor trusts for state income tax purposes. Retroactive to January 1, 2023, Californians who created and funded an ING will owe state income taxes on any taxable income earned by the ING. While closing the ING loophole marks the end […]

Storing Passwords in Case of Death

Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.