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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

⏲ 1:29 👁 4.8M

What Yuh Know

YOU WILL LAUGH TIL YOU CRY || What Yuh Know - 2021 (Episode 6)

⏲ 11 minutes 26 seconds 👁 137.3K

Masked Wolf

Masked Wolf - Astronaut In The Ocean (Official Music Video)

⏲ 2 minutes 33 seconds 👁 195.3M

Camila Cabello and Lil Nas X got stuck in an elevator in her apartment building \

Camila Cabello and Lil Nas X got stuck in an elevator 'for a good hour'

⏲ 1:51 👁 3.7M

Bluerose Skansen

HOW DID YOU KNOW -CHIQUI PINEDA lyrics (HD)

⏲ 5 minutes 22 seconds 👁 4.2M

Official Arctic Monkeys

Arctic Monkeys - Do I Wanna Know? (Official Video)

⏲ 4 minutes 26 seconds 👁 825.6M

The wreck of a German steamship sunk at the end of World War II found by divers, with the crates on board the submerged vessel holding the precious furnishings of the lost 18th century Amber Room, which German soldiers looted from a Russian royal palace.<br/><br/>The shipwreck was located north of the Polish seaside town of Ustka, at a depth of 290 feet (88 meters), after more than a year of searching for it on the floor of the Baltic Sea, said Tomasz Stachura, who led the discovery. Stachura is one of the founders of the Baltictech dive team. By a curious coincidence, the wrecked ship has the same name — Karlsruhe— as a WWII German warship found off Norway last month, which was sunk in 1940. Both ships were named after a city in Germany.

German Steamship Wreck May Hold Looted Treasures From Russian Palace

⏲ 2:14 👁 4.6M

Saahs Spellchucker

Annihilation : What Do You Know? (extended)

⏲ 15 minutes 17 seconds 👁 12.6K

Taquila Coleman

Counterfeit Relationship Ended: How do you know when it's safe to trust the prodigal again?

⏲ 8 minutes 23 seconds 👁 360

Mumbaikars will face water cut between May 24-25 (11:30 am-11:30 am). There will be no supply of water in some parts of the eastern suburbs of Mumbai for 24 hours. As reported by The Times of India, Ghatkopar, Bhandup, and Mulund areas will not receive water from 11:30 am on Friday, May 24, to 11:30 am on Saturday, May 25. The TOI report further says that the water cut has been announced due to work of diverting an existing 1,200 mm diameter water main along Mulund Goregaon Link Road (GMLR), from Fortis Hospital to Udyog Shetra, Mulund (West). Watch the video to know more.<br/>

Mumbai: BMC Announces 24-Hour Water Cut In Eastern Suburbs; Know Dates, Timings & Affected Areas

⏲ 1:9 👁 3.1M

BackBone Records

Vaddi Nuh ਵੱਡੀ ਨੂੰਹ (Full Episode) New Short Movie 2024 #punjabiwebseries

⏲ 6 hours 13 minutes 24 seconds 👁 622.9K

Disney ¡Fan!

Enchanted - That's How You Know (HD) Music Video

⏲ 4 minutes 42 seconds 👁 1.2M

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