_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.jpg "IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed from was by khaled sayfullha Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 1:29
👁 View: 31.7M times
✓ Published: 07-May-2024
👁 View: 31.7M times
✓ Published: 07-May-2024
Description:
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.
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.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_new-wwe-title-details-aew-nightmare-wwe-ple-tension-tony-khan-wrestling-124-wrestletalk.webp "Who do you think will win the Women's North American belt? Let us know in the comments!<br/>10 Worst Finishers | Tables, Lists & Chairshttps://www.youtube.com/watch?v=C5CS1DDx-OI&t=301s<br/>More wrestling news on https://wrestletalk.com/<br/>Unlock the secrets to working in professional wrestling, sign up to https://www.wrestlingmasterclass.com/<br/>0:00 - Coming Up...<br/>0:19 - Women’s North American Championship Details<br/>1:55 - AEW Dynamite Nightmare?<br/>5:40 - Real Reason Backlash Was In Lyon Not Paris<br/>7:55 - Real Reason WWE Changed King & Queen of the Ring<br/>9:23 - Tony Khan Wrestling?<br/>New WWE Title Details, AEW Nightmare, WWE PLE Tension, Tony Khan Wrestling | WrestleTalk<br/>#WWE #AEW #TonyKhan<br/><br/>Subscribe to WrestleTalk Podcasts https://bit.ly/3pEAEIu<br/>Subscribe to partsFUNknown for lists, fantasy booking & morehttps://bit.ly/32JJsCv<br/>Subscribe to NoRollsBarredhttps://www.youtube.com/channel/UC5UQPZe-8v4_UP1uxi4Mv6A<br/>Subscribe to WrestleTalkhttps://bit.ly/3gKdNK3<br/>SUBSCRIBE TO THEM ALL! Make sure to enable ALL push notifications!<br/><br/>Watch the latest wrestling news: https://shorturl.at/pAIV3<br/>Buy WrestleTalk Merch here! https://wrestleshop.com/ <br/><br/>Follow WrestleTalk:<br/>Twitter: https://twitter.com/_WrestleTalk<br/>Facebook: https://www.facebook.com/WrestleTalk.Official<br/>Patreon: https://goo.gl/2yuJpo<br/>WrestleTalk Podcast on iTunes: https://goo.gl/7advjX<br/>WrestleTalk Podcast on Spotify: https://spoti.fi/3uKx6HD<br/><br/>About WrestleTalk:<br/>Welcome to the official WrestleTalk YouTube channel! WrestleTalk covers the sport of professional wrestling - including WWE TV shows (both WWE Raw & WWE SmackDown LIVE), PPVs (such as Royal Rumble, WrestleMania & SummerSlam), AEW All Elite Wrestling, Impact Wrestling, ROH, New Japan, and more. Subscribe and enable ALL notifications for the latest wrestling WWE reviews and wrestling news.<br/><br/>Sources used for research:<br/>https://wrestletalk.com/news/wwe-denied-first-choice-backlash-paris/<br/>https://twitter.com/WrestleTalk_TV/status/1787782645960650959<br/>https://www.patreon.com/posts/current-plan-for-103834195<br/>https://www.f4wonline.com/news/nxt/womens-north-american-title-qualifying-matches-to-begin-on-next-wwe-nxt<br/>https://wrestletalk.com/news/wwe-backlash-2024-cost-revealed/ <br/>https://www.f4wonline.com/news/aew/aews-tony-khan-on-possibly-wrestling-im-not-the-best-person-for-it <br/><br/>Youtube Channel Comments Policy<br/>We appreciate the comments and opinions our viewers provide. Do note that all comments are subject to YouTube auto-moderation and manual moderation review. We encourage opinions and discussion, but harassment, hate speech, bullying and other abusive posts will not be tolerated. Decisions on comment removal are made by the Community Manager. Please email us at support@wrestletalk.com with any questions or concerns.")
⏲ 10:7 👁 36.5M
_police-officer-tackles-suspected-bike-thief-to-ground.webp "Police dashcam footage shows the dramatic moment a suspected bike thief was tackled to the ground by an officer after he attempted to flee from the back of an ambulance.")
_brits-ordered-out-of-sea-after-shark-92.webp "A family was left “terrified” after being circled by a shark at a beach in Spain. <br/><br/>Holidaymaker Jessica Kenny, 27, was paddling in the sea at Playa Arenal d’en Castell, Menorca, with her four-year-old son when she spotted the shark. <br/><br/>She quickly realised it was following her dad, Darren, 57, who was swimming ahead towards some buoys, on Monday.<br/><br/>Concerned beachgoers flagged the lifeguard down - who quickly called for backup.")
_protesters-lay-mock-coffins-in-milan-over-workplace-safety-in-italy.webp "One of Milan's iconic squares, was filled with symbolic coffins by Italy's second-largest union to highlight the issue of workplace fatalities.")
_in-search-of-tigh-na-cailleach-with-alison-campsie.webp "After around ten miles on foot through Glen Lyon, the shrine to the powerful Celtic goddess of Cailleach came into view, at last. Amid a shock of May sunshine and a warm wind that blew me along the path by the loch, there it stood in powerful isolation.<br/><br/>To see it there, cradled by the mountains and decorated with recent offerings of fruits, nuts and flowers, was more than worth the walk, which I had daftly extended due to a mishap on the map. By the shrine, the clock on the long, hot day suddenly stopped as hundreds, perhaps thousands, of years of belief and respect for this mythological figure made their presence felt.<br/><br/>Tigh Na Cailleach, or House of the Old Woman, is where the giantess of Celtic folklore is remembered in the place she is said to have lived, bringing great prosperity.")
_baby-gorilla-teases-zoo-goers-by-pulling-funny-faces.webp "A baby gorilla teased zoo-goers by pulling funny faces at them. <br/><br/>Lucie Štěpničková, 37, was visiting Prague Zoo on May 5, 2024, when the two gorillas started playing in their enclosure. <br/><br/>The baby, Mobi, four months old - a critically endangered western lowland gorilla - was born in January 2, to mother Duni.<br/><br/>During Lucie's visit, Mobi was playing by the windows and pulling funny faces at the onlookers.")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "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.")
_eurovision-2024-pro-palestine-demonstrators-call-for-israel39s-disqualification.webp "Despite the thousand-strong protest in Malmo, Sweden, Israel's entry into the Eurovision Song Contest has qualified for the finals, to be held on May 12, 2024. The 20-year-old Israeli singer was booed by audience members who shouted 'free Palestine' during her performances.")
_new-wwe-title-details-aew-nightmare-wwe-ple-tension-tony-khan-wrestling-124-wrestletalk.jpg)
_police-officer-tackles-suspected-bike-thief-to-ground.jpg)
_brits-ordered-out-of-sea-after-shark-92.jpg)
_protesters-lay-mock-coffins-in-milan-over-workplace-safety-in-italy.jpg)
_in-search-of-tigh-na-cailleach-with-alison-campsie.jpg)
_baby-gorilla-teases-zoo-goers-by-pulling-funny-faces.jpg)
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.jpg)
_eurovision-2024-pro-palestine-demonstrators-call-for-israel39s-disqualification.jpg)
![[+]](/images/menu.gif){kind=small}