_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 in the quiet 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
_little-girl-batlles-with-the-overenthusiastic-echoes-of-her-dad39s-impromptu-concert.webp "Little girl Laikyn was having a peaceful day, snuggled securely in her mom's arms, when suddenly her dad decided to give a surprise concert right behind them.<br/><br/>With the first note he belted out, Laikyn's quiet world turned upside down.<br/><br/>Her dad's robust singing made her eyes go wide with shock. His enthusiastic vocals, far from soothing, seemed to bounce around her little ears like a basketball game in overtime.<br/><br/>The more her dad sang, the more Laikyn seemed to wonder what she did to deserve this musical onslaught.<br/>Location: Middlebury, United States<br/>WooGlobe Ref : WGA182439<br/>For licensing and to use this video, please email licensing@wooglobe.com")
_manifestations-of-faith.webp "Are you looking for that perfect book to add to your library or do you at times want to be whisked away to calm, quiet solitude? Then you've got to get your hands on Manifestations of Faith; it’s the latest publication from the Archdiocese of Port of Spain which features 13 of their churches and chapels some which have been restored and some needing that extra TLC.<br/><br/><br/>Multimedia journalist Urvashi Tiwari Roopnarine and camerawoman Kerry Patrick sat with the team binding this book together for this story.")
_how-to-handle-change-in-life-dealing-with-change-kaizen-in-operations-management.webp "<br/>How To Handle Change In Life || Dealing With Change || Kaizen In Operations Management<br/><br/>6 Strategies For Coping With Change<br/>Plan ahead. If you know change is on the horizon, do some prep work. ...<br/>Reframe your thinking. Figure out what's going on in your mind when you're feeling sad and break negative patterns. ...<br/>Take time to reflect. ...<br/>Strive to maintain some normalcy. ...<br/>Create some comfort. ...<br/>Count your blessings.<br/><br/>1:Plan ahead. If you know change is on the horizon, do some prep work. Think about what you might do when an elderly parent falls ill. If your company has been through recent layoffs, consider how you’ll navigate a job change. Change is less stressful when you have a contingency plan in place.<br/> 2:Reframe your thinking.: Figure out what’s going on in your mind when you’re feeling sad and break negative patterns. Once you become aware of negative thoughts, you’re better equipped to shift them to emphasize the positive. For example, instead of “I don’t deserve this raise,” tweak the thought to “I worked hard for this recognition.”<br/>Take time to reflect. With today’s jam-packed schedules, most people don’t take time to mark or mourn what they’re losing before diving into something new. Rather than numb feelings of sadness with new distractions, give your thoughts a voice. Write in a journal, talk with a trusted friend or make an appointment with a therapist. You might even consider honoring the loss with a scrapbook, quilt, poem or painting.<br/>Strive to maintain some normalcy. Structure and routine are comforting, so the more you can maintain your tried-and-true routine in the midst of a change, the better off you’ll be. Go for your usual morning walk, visit the same coffee shop (if you can) and try to stick to your normal sleeping, waking and eating times.<br/>Create some comfort. Incorporate stress-relieving and enjoyable activities into your day. Listen to relaxing music, meditate, go to the gym or take a warm bath. It doesn’t matter what you do as long as it’s comforting to you – and healthy. Avoid quieting troubling emotions with unhealthy behaviours such as smoking, drinking and gambling. And don’t be afraid to ask for help, whether from a trusted friend or a therapist.<br/>Count your blessings. Whether you just received a difficult diagnosis or you’re about to start a new job, counting your blessings in a gratitude journal or sharing the top three highlights of your day with a family member at dinner can go a long way toward making you feel less depleted. Even during difficult times, things like noticing a starry sky or beautiful sunset or watching a colourful butterfly can act almost like a reset button for your mind.<br/><br/>Free Technology lectures in URDU and Hindi language. <br/><br/>For a detailed list of lectures please visit our Website <br/>www.urduitacademy.com <br/><br/>")
_thr-charts-393-body-problem39-amp-39quiet-on-set39-lead-streaming-series-chart-124-thr-video.webp "'3 Body Problem' and 'Quiet On Set' landed the top two spots on the streaming series chart, followed by 'Bluey,' 'Homicide: New York' and 'The Gentlemen.' We're looking at the top series entering streaming charts on today's THR Charts: The Breakdown for Friday, April 19th.")
_candace-cameron-bure39s-advice-for-child-actors-after-watching-quiet-on-set-exclusive-e-news.webp "Candace Cameron Bure's Advice for Child Actors After Watching ‘Quiet on Set’ (Exclusive) E! News")
⏲ 4:52 👁 20K
_nickelodeon-just-quietly-canceled-two-shows-amidst-39quiet-on-set39-documentary-fallout.webp "CinemaBlend is the go-to-source for today's information and updates on new movies, tv shows, games and celebrity news and gossip.")
_candace-cameron-bure39s-advice-for-child-actors-after-watching-quiet-on-set-exclusive-e-news.webp "Candace Cameron Bure's Advice for Child Actors After Watching ‘Quiet on Set’ (Exclusive) E! News")
⏲ 4:52 👁 10K
_spooky-encounters-creepy-dolls-amp-dark-ghosts.webp "“Creepy” ghost story But according to what was said, the dolls were constantly crying after the expectant mothers gave birth.Dark ghost stories, paranormal activity Horror Stories This channel has very scary and mostly lived horror stories on different subjects that will really scare you. It contains mysterious horror stories that you cannot imagine. But be alone, take care of yourself when listening to these stories, especially at night in a quiet environment.<br/>Friends, you can subscribe to my channel You can turn on the Notification () Bell and be informed about the videos.")
_little-girl-batlles-with-the-overenthusiastic-echoes-of-her-dad39s-impromptu-concert.jpg)
_manifestations-of-faith.jpg)
_how-to-handle-change-in-life-dealing-with-change-kaizen-in-operations-management.jpg)
_thr-charts-393-body-problem39-amp-39quiet-on-set39-lead-streaming-series-chart-124-thr-video.jpg)
_candace-cameron-bure39s-advice-for-child-actors-after-watching-quiet-on-set-exclusive-e-news.jpg)
_nickelodeon-just-quietly-canceled-two-shows-amidst-39quiet-on-set39-documentary-fallout.jpg)
_candace-cameron-bure39s-advice-for-child-actors-after-watching-quiet-on-set-exclusive-e-news.jpg)
_spooky-encounters-creepy-dolls-amp-dark-ghosts.jpg)
![[+]](/images/menu.gif){kind=small}