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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.
⏲ 1:29 👁 30.4M
Danielle
⏲ 8 minutes 30 seconds 👁 32.2K
AlphaInvestMinds
⏲ 5 minutes 28 seconds 👁 8.5K
The physical redevelopment project for the Kuala Lumpur Sentral area to address traffic congestion and increasing commuter use will start by the end of 2024, says Anthony Loke.<br/><br/>The Transport Minister said negotiations over the redevelopment plans under the Public-Private Partnership Unit (Ukas) were still ongoing.<br/><br/>He said in a press conference after launching the opening of Menara Sentral Railway Assets Corporation (RAC) , Kuala Lumpur on Friday (May 10). <br/><br/>Read more at https://shorturl.at/HPV01<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline<br/>
⏲ 5:35 👁 9.7M
Afzal Hussein
⏲ 15 minutes 19 seconds 👁 152.1K
David Rubenstein
⏲ 3 minutes 15 seconds 👁 141.1K
Where are the biggest opportunities for fund managers in the sustainable investment space this year? How to boost regulation and reduce greenwashing? Hagen-Holger Apel, Country Head Switzerland and Senior Client Portfolio Manager at DNB Asset Management, gives his take at the 31st «Refinitiv Lipper Fund Awards Switzerland», held at the Park Hyatt in Zurich on 26th February 2020.
⏲ 2 min 18 sec ✓ 27-Feb-2020
Fundplat
⏲ 1 minute 41 seconds 👁 50
HedgeNordic
⏲ 6 minutes 24 seconds 👁 74
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.
⏲ 1:29 👁 2M
Loral Langemeier
⏲ 10 minutes 35 seconds 👁 20.9K
DNB Asset Management
⏲ 5 minutes 29 seconds 👁 18
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