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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

EasyTechs

How to Transfer Apps andPrograms from One PC to Another (Keep All Settings)

⏲ 10 minutes 35 seconds 👁 39.2K

How to Transfer Google Chrome Profile to New Computer

⏲ 3 minutes 38 seconds 👁 34.8K

The new rule issues migrants a benefit card for local use, limiting cash withdrawals and banning international transfers.

Germany limits cash benefit payments for asylum-seekers as migration numbers increase

⏲ 1:38 👁 35.5M

Fix Windows Now

How to Install Google Play Store on PC ✔ How to Download & Install Playstore Apps in Laptop or PC

⏲ 3 minutes 21 seconds 👁 654.5K

jeak.com

Quickest and Easiest Way to Transfer Files from Android Phone to PC or MAC

⏲ 6 minutes 51 seconds 👁 234.7K

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 👁 3.8M

sakitech

All Samsung Galaxy Phones: How To Wirelessly Transfer Files, Photos, Videos to Windows 10 Computer

⏲ 9 minutes 44 seconds 👁 403.7K

PE4Doers

3 Ways to Move your Programs to New PC

⏲ 9 minutes 52 seconds 👁 19.7K

The Biden administration has notified Congress of its intention to transfer $1 billion worth of weapons to Israel. The move comes days after the US withheld shipments of certain munitions to Israel during its operation in Gaza. President Biden had said US weapons transfers could be curtailed if Israel expanded its ground offensive into civilian areas of Rafah. Last month, Congress approved $95 billion in foreign aid, including military aid for Israel, Ukraine, and Taiwan. Congressional approval will be required for the transfer to go through.

Biden Administration Seeks Congressional Approval for $1 Billion Weapons Transfer to Israel

⏲ 0:36 👁 885K

Teconz

How to Download & Install Playstore Apps in Laptop or PC ✔ How to Install Google Play Store on PC

⏲ 2 minutes 34 seconds 👁 181K

Joshua Chang

Google IO 2024: The Gemini Era!

⏲ 11 minutes 56 seconds 👁 44.5K

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