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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 👁 7.6M

Legal Help For Veterans, PLLC

VA Family Caregiver Program Q&A

⏲ 15 minutes 50 seconds 👁 6.6K

Veterans Health Administration

VA Family Caregivers

⏲ 6 minutes 7 seconds 👁 11.6K

Europe’s first major exhibition on kimono opens to the public on Saturday 4 May at V&A Dundee.<br/> <br/>Kimono: Kyoto to Catwalk presents the kimono as an iconic garment and a dynamic, ever-evolving icon of fashion, tracing the influence of the kimono from 17th century Japan to present-day cutting-edge couture and street fashion across the world.<br/> <br/>In the exhibition, rare 17th and 18th century kimono are displayed alongside modern designs from Issey Miyake, Yohji Yamamoto, and Alexander McQueen. The kimono’s recent reinvention on the streets of Japan is also explored through work by a new wave of contemporary designers and stylists.<br/> <br/>Arguably the ultimate symbol of Japan, the kimono is revered within the country as the embodiment of national culture and internationally regarded with fascination. This symbolic status, and the fact that its basic form has remained consistent over the centuries, means that that the kimono is often viewed as a simple, timeless garment. Kimono: Kyoto to Catwalk counters that conception, revealing how the kimono has always been a dynamic item of fashionable dress that has been restyled consistently throughout its history, influencing modern fashion and popular culture, from evening wear and festival fashion, to rock stars and Star Wars.

Kimono: Kyoto to Catwalk opens at V&A Dundee

⏲ 1:9 👁 6.5M

Veterans InfoTap

Great News for Veterans and Caregivers!!! VA Just Announced!!

⏲ 3 minutes 43 seconds 👁 7.1K

The Traveling Love Birds

AMTRAK AUTO TRAIN Sanford Fla. to Lorton Va. Family Room

⏲ 44 minutes 45 seconds 👁 3.6K

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 👁 3.8M

The Medicare Family

Do You Need Medicare if You Get Care at VA or TriCare for Life?

⏲ 5 minutes 55 seconds 👁 8.7K

Perenhelp

The miracle of the fifth day: Roya was found

⏲ 55 minutes 44 seconds 👁 1.6K

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 👁 9.2M

TIR

Tiling in Ahura Castle.Hassan has decided to put ceramic flooring in the new room @TIR78

⏲ 1 hour 8 minutes 50 seconds 👁 2.6K

Kənd Havası I Köy Havası

FRIENDS, COME BE OUR GUEST! - GRANDMOTHERS COOK ANCIENT BREAD AND NUTS FOR DINNER

⏲ 36 minutes 20 seconds 👁 1.9K

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