_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.jpg "IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed from coasters sonar or Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 1:29
👁 View: 3M times
✓ Published: 12-May-2024
👁 View: 3M times
✓ Published: 12-May-2024
Description:
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.
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.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_how-to-make-green-goddess-pasta-salad.webp "In this video, watch as Andee guides you through the steps to create a delicious Green Goddess Pasta Salad! Packed with vibrant flavors and wholesome ingredients, this recipe is perfect for a refreshing meal or a delightful side dish. Learn how to blend fresh herbs, garlic, and creamy dressing to seriously improve your pasta salad options. So follow along as we showcase easy-to-follow instructions and tips for a satisfying culinary experience.")
_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.")
_astronomers-discover-first-evidence-of-atmosphere-on-nearby-super-earth.webp "Super-Earths are a lot like, well, Earth. They’re rocky worlds rather than ones made of gas or ice and sometimes they have water. However, astronomers say that super-Earth 55 Cancri E, also known as Janssen, might be more Earth-like than any found before, with a catch.")
_dudley-north-mp-marco-longhi-instructs-staff-not-to-deal-with-asylum-cases.webp "A Conservative MP has instructed his staff to no longer deal with asylum cases, saying he wants to prioritise his “limited resources”.<br/><br/>Marco Longhi faced shouts of “resign” and “shameful” as he raised the matter in the House of Commons at business questions.<br/><br/>The MP for Dudley North said: “I have stopped the large number of so-called asylum seekers from attending my surgeries and I have instructed my office to not deal with asylum cases for two reasons.<br/><br/>“As MPs, we have zero authority, zero mandate or influence over Home Office decisions. We have very limited resources and I, for one, want to dedicate my resources to putting Dudley people first.\")
_5-signs-you39re-not-a-narcissist-just-lonely.webp "If you clicked on this video, chances are you have questions about you being a narcissist. Do you think you’re too self-involved or are you too attached to the idea of receiving admiration? Sometimes, these are actually not an indicator of NPD, but rather a personal call for help.<br/><br/>source: psych2go")
_in-search-of-tigh-na-cailleach-with-alison-campsie.webp "After around ten miles on foot through Glen Lyon, the shrine to the powerful Celtic goddess of Cailleach came into view, at last. Amid a shock of May sunshine and a warm wind that blew me along the path by the loch, there it stood in powerful isolation.<br/><br/>To see it there, cradled by the mountains and decorated with recent offerings of fruits, nuts and flowers, was more than worth the walk, which I had daftly extended due to a mishap on the map. By the shrine, the clock on the long, hot day suddenly stopped as hundreds, perhaps thousands, of years of belief and respect for this mythological figure made their presence felt.<br/><br/>Tigh Na Cailleach, or House of the Old Woman, is where the giantess of Celtic folklore is remembered in the place she is said to have lived, bringing great prosperity.")
_caravans-on-delves-green-in-walsall.webp "More than 25 caravans could be seen on Delves Green in Walsall on Tuesday.<br/><br/>The owners were told by the police to leave by the evening or there would be enforcement action taken.")
_9-may-2024-124-aaj-ka-rashifal-124-124-daily-astrology-124-boldsky.webp "आज का राशिफल में 9 मई 2024 के दिन कैसा रहेगा सभी राशि वालों के लिए जानें ज्योतिष दिपाली दुबे जी है। इस वीडियो में ज्योतिषी दीपाली दुबे जी आपको बताएगा आपके दैनिक राशिफल के बारे में रोजाना रात 10 बजे। सभी 12 राशि वाले जानें ज्योतिष दीपाली दुबे से हर दिन की भविष्यवाणी। <br/> <br/>Aaj Ka Rashifal 9 May 2024, 2024 or Dainik Rashifal by Astrologer Deepali Dubey. In the video, Deepali Dubey will help you to understand the day to day astrology as per zodiac signs. Dainik Rashifal will help you to know the Daily Bhavishyafal or Horoscope. So, before stepping out of your house must watch Dainik Rashifal to avoid any unwanted happenings. You may follow her and contact her:- <br/> <br/>www.deepalidubey.com | tarotepali@gmail.com <br/> <br/>https://in.pinterest.com/deepaliastro <br/> <br/>Https://linkedin.com/in/deepaliastro <br/> <br/>www.instagram.com/deepaliastro <br/> <br/>www.facebook.com/deepaliastro <br/> <br/>www.youtube.com/deepaliastro <br/> <br/>https://deepaliastro.tumblr.com <br/> <br/>www.twitter.com/deepaliastro <br/> <br/>Mob: 9971911453 <br/> <br/>#AajKaRashifal #AajKaRashifalInHindi #DainikRashifal<br/>~HT.99~PR.114~ED.284~")
⏲ 9:21 👁 2.8M
_how-to-make-green-goddess-pasta-salad.jpg)
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.jpg)
_astronomers-discover-first-evidence-of-atmosphere-on-nearby-super-earth.jpg)
_dudley-north-mp-marco-longhi-instructs-staff-not-to-deal-with-asylum-cases.jpg)
_5-signs-you39re-not-a-narcissist-just-lonely.jpg)
_in-search-of-tigh-na-cailleach-with-alison-campsie.jpg)
_caravans-on-delves-green-in-walsall.jpg)
_9-may-2024-124-aaj-ka-rashifal-124-124-daily-astrology-124-boldsky.jpg)
![[+]](/images/menu.gif){kind=small}