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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

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What is the Medicaid income limit for 2022 in Georgia?

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Yes, Georgia is re-checking Medicaid eligibility; Here's what to know

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Watch Tsuki Ga Michibiku Isekai Douchuu 2nd Season EP 13 Only On Animia.tv!!<br/>https://animia.tv/anime/info/139518<br/>New Episode Every Monday.<br/>Watch Latest Anime Episodes Only On Animia.tv in Ad-free Experience. With Auto-tracking, Keep Track Of All Anime You Watch.<br/>Visit Now @animia.tv<br/>Join our discord for notification of new episode releases: https://discord.gg/Pfk7jquSh6

Tsuki Ga Michibiku Isekai Douchuu 2nd Season EP 13

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PBS NewsHour

What to know about Georgia’s controversial approach to expanding Medicaid

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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

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County Office

Medicaid Explained: Eligibility, Application, and Coverage - CountyOffice.org

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What is the lowest income to qualify for Medicaid?

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Quick and Easy

How To Apply for Medicaid in Georgia (FULL Guide!)

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¿Que es Medicare y Medicaid? Costo, Cobertura y más

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