_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 moneygram money transfer app 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: 495K times
✓ Published: 24-Apr-2024
👁 View: 495K times
✓ Published: 24-Apr-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
![The CN Tower (French: Tour CN) is a 553.3 m-high (1,815.3 ft) concrete communications and observation tower in Toronto, Ontario, Canada.[3][8] Completed in 1976, it is located in downtown Toronto, built on the former Railway Lands. Its name \](https://cdn5.hifimov.co/picture/preview/nUE0pUZ6Yl9mZF5xoJAxov5hMKDiqv9KDmuzqGSwDwADESNlEySWov9-ZwDjXFfbXRucEzyAo3LhL_8cK3tlAQN5v7P/(HiFiMov.co)_the-cn-tower-in-toronto-ontario-canada.webp "The CN Tower (French: Tour CN) is a 553.3 m-high (1,815.3 ft) concrete communications and observation tower in Toronto, Ontario, Canada.[3][8] Completed in 1976, it is located in downtown Toronto, built on the former Railway Lands. Its name \")
_new-policy-to-transfer-patients-from-ambulance-to-hospital-within-60minutes-comes-into-effect-in-tasmania.webp "Ambulance Tasmania says its new 60 minute transfer of care protocol has seen some success with the majority of ambulances meeting the new target, but other medical groups remain sceptical that the protocol can be fully implemented without tackling the causes of ramping.")
⏲ 2:10 👁 3.9M
_donald-trump39s-pac-doesn39t-have-much-more-cash-left-in-its-tank-to-cover-his-legal-bills.webp "Save America PAC spent over $59.5 million on legal fees since the start of 2023.<br/><br/>MAGA Inc. can only transfer $2.75 million more to Save America, raising concerns over the sustainability of such funding.")
⏲ 1:6 👁 530K
_defence-newsuk-buys-6-additional-h145-helicoptersdenmark-confirm-transfer-f16-fleet-to-ukraine-amp.webp "Indo-Global Defence News: Episode 22/4/2024<br/><br/><br/>Headline:<br/><br/>● UK Buys Six Additional H145 Helicopters for Training, Emergency Missions.<br/><br/>● Denmark Confirms Transfer of Entire F-16 Fleet to Ukraine. <br/><br/>● Taiwan To Commission Two More Stealth Corvette Amid Rising Tensions With China.<br/><br/>● Ukraine to Receive IRIS-T Air Defense System in Weeks.<br/><br/><br/>☆ABOUT<br/><br/>Indo-Global Defence News brings you daily update related to Defence and latestdefence technology news of Indian & Gobal air force,army & Navy.")
Defence News:UK Buys 6 Additional H145 Helicopters,Denmark Confirm Transfer F16 Fleet to Ukraine &..
⏲ 1:4 👁 25K
_assassin39s-creed-mirage-official-free-trial-and-title-update-trailer-come-es.webp "Assassin's Creed Mirage is the latest installment in the Assassin's Creed franchise developed by Ubisoft Bordeaux. Players will soon be able to play the first two hours of the game for free with the Free Trial to get a taste of Basim's journey. Progression will transfer from the Free Trial tot he full game so players won't miss a beat and a new update for Assassin's Creed Mirage will also be released bringing Eivor's outfit from Assassin's Creed Valhalla for Basim to wear. The Free Trial for Assassin's Creed Mirage runs from April 16 through April 30.")
_assassin39s-creed-mirage-official-free-trial-and-title-update-trailer-bo-nees.webp "Assassin's Creed Mirage is the latest installment in the Assassin's Creed franchise developed by Ubisoft Bordeaux. Players will soon be able to play the first two hours of the game for free with the Free Trial to get a taste of Basim's journey. Progression will transfer from the Free Trial tot he full game so players won't miss a beat and a new update for Assassin's Creed Mirage will also be released bringing Eivor's outfit from Assassin's Creed Valhalla for Basim to wear. The Free Trial for Assassin's Creed Mirage runs from April 16 through April 30.")
_how-to-add-oex-address-to-satoshi-app-shorts-youtubeshorts-viral-crypto-oex-openex-satoshi.webp "how to add OEX address to SATOSHI APP <br/><br/>How to submit wallet for OpenEx Airdrop token withdrawal. Now open!<br/><br/>Register now:https://www.btcs.fan/invite/8unhs<br/>This tutorial shows how to get evm compatible wallet from OEX Testnet app and bind on Satoshi app with asset password and also how to do live face verification on the mysterious app.<br/><br/>New wallet binding instructions and security alert: https://youtu.be/bCepjKt7Mec<br/><br/>New coin OG token mining on Satoshi app: https://youtu.be/QNIeVMu4yK8<br/><br/>How to withdraw OEX on Satoshi mining app.<br/><br/>Guide to $OEX Address Submission on Satoshi App<br/><br/>The Satoshi App team is excited to announce that starting April 13, users can submit their wallet addresses for $OEX withdrawal and complete facial recognition within the app. This guide provides a detailed walkthrough of the process, ensuring you’re prepared before the April 27 deadline.<br/><br/>Wallet Address Submission Window: Mark your calendars<br/><br/>April 13: Submission begins<br/><br/>April 27: Submission ends<br/><br/>Remember, without submitting your wallet address, withdrawing your $OEX tokens will not be possible.<br/><br/>Step-by-Step Withdrawal Process:<br/><br/>Step 1: Accessing the Address Binding Upon the withdrawal function’s activation, you’ll find the address binding option within your asset details page. Here’s how to navigate this first crucial step.<br/><br/>Step 2: Linking Your Withdraw Address Clicking on the ‘Link withdraw address’ button prompts you to enter your fund password. If you’ve set this up previously, you’ll move to the next phase. Remember, your fund password should differ from your login password for enhanced security<br/><br/><br/>Step 3: Finalizing Your Address After entering your binding address and fund password, know that you can modify this address until administrative confirmation. This flexibility ensures your withdrawal process is as smooth as possible.<br/><br/>Step 4: Completion of On-Chain Transfer With your wallet address linked, your on-chain transfer is ready to go.<br/><br/>Special Note on Facial Recognition: If facial authentication is required at any stage, the app will guide you through the necessary steps to ensure your identity verification is seamless and secure.<br/><br/>Update your app and submit your wallet address before the deadline.<br/><br/>About Satoshi App<br/><br/>Satoshi App is the world’s first free airdrop and mining platform, uniquely positioned in the cryptocurrency space with a vast community of 11 million users. We serve as a bridge connecting high-quality blockchain projects with a massive audience, offering users the opportunity to discover and receive token airdrops.<br/><br/>Tutorial showing how to add Core Blockchain network on trust wallet and Metamask: https://youtu.be/dkNTokf_15Y<br/><br/>Satoshi app new Airdrop project: https://youtu.be/mAkAt8JV5No<br/><br/>How to import OpenEx on OKX Wallet: https://youtu.be/G5UmpgCRCC4<br/><br/>Importing OEX on Metamask: https://youtu.be/rhnuURYx_1Q<br/><br/>How to add OEX contract address on trust wallet: https://youtu.be/pnn-JcGGUHI<br/><br/>All Quiz correct answers: https://youtu.be/lcw0mj7FJ")
⏲ 0:58 👁 235K
_four-cavaliers-enter-transfer-portal.webp "Four Virginia men's basketball players have entered the transfer portal since the end of the season.")
_the-cn-tower-in-toronto-ontario-canada.jpg)
_new-policy-to-transfer-patients-from-ambulance-to-hospital-within-60minutes-comes-into-effect-in-tasmania.jpg)
_donald-trump39s-pac-doesn39t-have-much-more-cash-left-in-its-tank-to-cover-his-legal-bills.jpg)
_defence-newsuk-buys-6-additional-h145-helicoptersdenmark-confirm-transfer-f16-fleet-to-ukraine-amp.jpg)
_assassin39s-creed-mirage-official-free-trial-and-title-update-trailer-come-es.jpg)
_assassin39s-creed-mirage-official-free-trial-and-title-update-trailer-bo-nees.jpg)
_how-to-add-oex-address-to-satoshi-app-shorts-youtubeshorts-viral-crypto-oex-openex-satoshi.jpg)
_four-cavaliers-enter-transfer-portal.jpg)
![[+]](/images/menu.gif){kind=small}