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NickV Ministries
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_5-things-to-do-next-week-13-19-may-2024.webp "Assistant editor Iain Lynn with his entertainments guide to five things to do next week in and around Lancashire")
_question-on-having-quiet-time-with-god-124-nickv-ministries.webp "NickV Ministries")
_the-best-and-worst-things-about-life-in-northfield.webp "It's a fairly leafy and quiet suburb of Birmingham which just over 10,000 people call home. I'm here today to speak to a few of the residents about what life is like for the people who live here and the best and worst things about life here in Northfield.")
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_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "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.")
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