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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 👁 17.2M

Seberson Method

Eminent vs. Imminent [SAT Vocabulary]SAT Words

⏲ 1 minute 51 seconds 👁 1K

iswearenglish

🔵Eminent Eminently Eminence - Eminent Meaning - Eminently Examples - Eminence Definition - 501

⏲ 4 minutes 26 seconds 👁 2.4K

A new study, conducted by OnePoll on behalf of Motel 6, revealed that 53% of people most commonly define a “vacation” as travel for relaxation, while 32% say a “trip” is travel for a purpose, such as an event.

Most Americans Say There Is a Huge Difference Between A Trip & A Vacation

⏲ 1:6 👁 20.2M

The English Scholar

imminent vs. eminent

⏲ 2 minutes 23 seconds 👁 94

Bina Roy - The Influential English Academy

What is the difference between Eminent and Imminent? || How to pronounce Eminent and Imminent?

⏲ 1 minute 4 seconds 👁 45

A baby name expert has revealed what the newly-released list of top 100 names says about parents - and why some have fallen out of favour.<br/><br/>SJ Strum, 43, is a professional baby name consultant and has given her take on thebaby name lists released today (17) by the Office for National Statistics (ONS).<br/><br/>The mum-of-three says the 2022 data shows we're going through a \

Expert says what new top baby names list says about parents - and why Harry is out

⏲ 0:57 👁 7.2M

The Mindsprings English Teacher

Difference between Imminent, Eminent & Prominent | Usage | Confusing Words | English Grammar

⏲ 14 minutes 49 seconds 👁 4.9K

The Nature of Writing

Immanent Imminent Eminent

⏲ 3 minutes 43 seconds 👁 2.5K

For most Americans (80%), there is a distinct difference between a “trip” and a “vacation.”<br/><br/>That’s according to a survey of 2,000 U.S. adults, conducted by OnePoll on behalf of Motel 6, with travel plans this summer, which revealed that a “vacation” is most commonly defined as travel for relaxation (53%).<br/><br/>While a “trip” is travel for a purpose, such as an event (32%) or simply getting out of their hometown (30%)<br/><br/>Arriving at the hotel (59%) and getting the first breath of ocean air (47%) are two indications that “vacation mode” is turned on.

Survey reveals the difference between a trip and a vacation

⏲ 1:12 👁 10.4M

Dr. Medusa

Eminent, imminent and emanant: know the difference with #theneighbourhoodteacher

⏲ 1 minute 15 seconds 👁 802

Englio Matic

Eminent vs. Imminent | Difference b w Eminent & Imminent | Eminent meaning | Imminent meaning

⏲ 30 seconds 👁 181

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