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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 👁 7.3M

Wise Money Show

Retirement Mistakes to Avoid After 50

⏲ 12 minutes 25 seconds 👁 611

Cyngor Môn Anglesey Council

Pwyllgor Cynllunio a Gorchmynion Planning and Orders Committee

⏲ 44 minutes 29 seconds 👁 37

Government minister Mel Stride insists that “we are seeing a resilient labour market,” despite official figures revealing that Britain’s unemployment rate has risen to its highest level for nearly a year as further cracks show in the jobs market. The Office for National Statistics said the rate of UK unemployment rose to 4.3%. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Government insist plan is working despite unemployment rise

⏲ 1:5 👁 34.6M

Public Health Scotland

Ceri Hughes, Flying Start Anglesey

⏲ 26 minutes 13 seconds 👁 81

Cyngor Môn Anglesey Council

Pwyllgor Cynllunio a Gorchmynion Planning and Orders Committee (Cymraeg)

⏲ 1 hour 29 minutes 20 seconds 👁 179

President Marcos believes that the government has already found the best solution to lower the price of rice in the market amid plans to certify as urgent the proposed amendments to the Rice Tariffication Law (RTL).<br/><br/>READ MORE: https://mb.com.ph/2024/5/17/gov-t-found-solution-to-lower-rice-prices-marcos<br/><br/>Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin<br/><br/>Visit our website at http://mb.com.ph<br/>Facebook: https://www.facebook.com/manilabulletin<br/>Twitter: https://www.twitter.com/manila_bulletin<br/>Instagram: https://instagram.com/manilabulletin<br/>Tiktok: https://www.tiktok.com/@manilabulletin<br/><br/>#ManilaBulletinOnline<br/>#ManilaBulletin<br/>#LatestNews<br/>

Gov’t found solution to lower rice prices—Marcos

⏲ 1:15 👁 5.3M

Cyngor Môn Anglesey Council

Planning and Orders Committee 12.1.22 (English)

⏲ 1 hour 21 minutes 3 seconds 👁 39

Cyngor Môn Anglesey Council

Planning and Orders Committee (English) 2.3.22

⏲ 1 hour 15 minutes 40 seconds 👁 59

Barcelona boss Xavi says he wants to push for the title next season in spite of their financial difficulties.

'The goal is to change' - Xavi outlines Barca's plans for transfer window

⏲ 1:21 👁 5.6M

Cyngor Môn Anglesey Council

Anglesey County Council

⏲ 1 hour 35 minutes 2 seconds 👁 58

Kerr Rawden

These Scottish Islands Will PAY YOU £50,000 To Live There!

⏲ 3 minutes 20 seconds 👁 292.1K

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