Anthony Vitiello, Chair of Connell Foley's Taxation and Estate Planning Group, authored the article “Move to Florida! But if You Can’t, Use Non-Grantor Trusts to Avoid State Income Tax,” which was published in the March 30, 2020 issue of the New Jersey Law Journal.
In the article, Tony discusses the use of trusts as an estate planning tool. In particular, he examines how a non-grantor trust, which is considered a separate income tax entity under federal tax law, can be used as a means of reducing state income taxes. However, there are special considerations and steps that should be followed to ensure the full tax benefit of using such a structure.