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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 👁 4.3M
AMP
AMP GOES TO THERAPY
⏲ 45 minutes 37 seconds 👁 1.9M
Dr. Todd Grande
Man Replaces Murdered Wife with Sex Doll | Colby and Kristen Trickle Case Analysis
⏲ 13 minutes 20 seconds 👁 22.6K
Join Harry Mack on an adrenaline-fueled journey through the vibrant streets of Miami Beach! In this exhilarating freestyle session, Harry immerses himself in the pulsating energy of one of the world's most iconic beach destinations. With his unparalleled lyrical prowess and infectious enthusiasm, Harry turns heads and amps up the excitement as he effortlessly weaves through the crowd, dropping jaw-dropping rhymes on the spot. Whether you're soaking up the sun or caught in the rhythm of the city, Harry's freestyle magic is sure to leave you hyped and craving for more. Tune in now to experience the electrifying synergy of Harry Mack and Miami Beach! Don't forget to like, comment, and subscribe for more epic freestyle adventures. #HarryMack #Freestyle #MiamiBeach #HYPE
Getting HYPE in Miami Beach _ Harry Mack Freestyle
⏲ 2:41 👁 350K
Skunkie Designs Electronics
6C33C Monster Tube Amp Build: Finalizing this Build!
⏲ 32 minutes 11 seconds 👁 28
Aid group Le Revers de la Medaille said the operation was part of a campaign to move migrants from the streets of the French capital in the lead up to the Olympic Games in July, and to ''make room for the beautiful Paris postcard''. It said the asylum seekers have nowhere else to go.
About 100 men and boys have been living in tents outside the council
⏲ 1:14 👁 13.6M
A flood watch is in effect in southeastern Texas and Louisiana as up to 8 inches of rain has already fallen, with more rain expected through Friday. Gov. Abbott issued a disaster declaration for 59 counties as severe weather and flooding threatened parts of Texas. \
Flood Watch in Effect for Southeastern Texas and Louisiana as Heavy Rainfall Continues. Gov. Abbott Declares Disaster in 59 Counties.
⏲ 0:40 👁 1.9M
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 👁 2.2M
Lord David Cameron says the UK is \
Lord Cameron: UK leading way in support for Ukraine
⏲ 1:23 👁 3.9M
Torrential rain caused floods and landslides in Indonesia's Sulawesi, claiming 14 lives and displacing residents. Rescue operations evacuated affected individuals, with over 1,000 homes impacted. Indonesia faces frequent natural disasters during heavy rains, highlighting the need for robust disaster response mechanisms to aid affected populations. <br/> <br/> <br/>#Indonesia #Indonesianews #indonesiafloods #indonesianewslive #indonesianewstodaylive #indonesianewsenglish #indonesianewsvolcano#Oneindia #OneindiaNews <br/>~PR.320~GR.122~HT.318~ED.155~
Indonesia's Sulawesi Deluged by Floods and Landslides Claiming 14 Lives, Several missing| Oneindia
⏲ 3:1 👁 3.5M
During a Senate Foreign Relations Committee hearing on Wednesday, Sen. Chris Van Hollen (D-MD) questioned the U.S. Special Envoy for Sudan Tom Perriello about the Biden Administration’s actions on the ongoing crisis and getting humanitarian aid.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
Official Raises Concern To Van Hollen About ‘Violations Of International Humanitarian Law’ In Sudan
⏲ 9:6 👁 85K
Kyiv's struggle has been deepening for months as Ukrainian forces keep waiting for vital new military aid.
Russian missiles strike Odesa again as situation worsens on eastern front
⏲ 1:58 👁 22M
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