_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 keno begun by 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: 2.5M times
✓ Published: 06-Apr-2024
👁 View: 2.5M times
✓ Published: 06-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
_if-you-want-to-win-consistently-at-keno-try-this-strategy.webp "So-Cal Today Florida Tomorrow")
_why-the-worlds-top-travel-brands-are-courting-indian-tourists-124-forbes.webp "India’s surging middle class is projected to spend as much as $144 billion a year on international travel by 2030. And hotels, airlines and cities are spending millions to land them. <br/><br/>Travel brands have begun heavily courting Indian tourists, often by tapping celebrities as influencers. Bollywood icon Shah Rukh Khan promotes Dubai and Katrina Kaif, a British actress who makes Hindi-language films, professes her loyalty to Accor. Actor Ranveer Singh appears in ads for Abu Dhabi, while his wife, Deepika Padukone, is the global brand ambassador of Qatar Airways. Meanwhile, Neeraj Chopra, the reigning Olympic gold medalist and world champion in javelin, has been enlisted to promote Switzerland’s spectacular alpine landscapes.<br/><br/>With more than 1.4 billion people, India now has the world’s largest population and the fifth-largest economy. Outbound travel from India is growing much faster than from any other country, which has led to a flurry of predictions that have travel brands salivating.<br/><br/>Read the full story on Forbes: <br/>https://www.forbes.com/sites/suzannerowankelleher/2024/03/23/indian-outbound-tourists-international-travel/<br/><br/>0:00 Introduction<br/>0:13 Why Travel Brands Are Betting on Indian Travelers<br/>1:10 Major Indian Celebrities As Travel Brand Ambassadors<br/>1:44 Strengthening International Travel From India<br/>2:36 How The U.S. Can Attract More Travelers from India<br/>3:17 What the Future Holds<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_live-cashing-in-on-keno-in-las-vegas.webp "QuickHundySlots")
_36100-turns-into-huge-win-on-keno-started-on-firelink-then-ended-with-keno-ring-that-bell.webp "James Spitzer Cash Out!!")
⏲ 8 minutes 15 seconds 👁 302
_124-beguni-124-recipe-by-saida.webp "Kitchen Time With SAIDA")
_max-bet-cleopatra-keno-bonus.webp "QuickHundySlots")
_al-aqsa-violence-rock-the-holy-site-israeli-forces-fire-tear-gas-at-worshippers-124-oneindia.webp "Israeli police deployed tear gas to disperse worshippers at the Al-Aqsa Mosque compound in Jerusalem on Saturday (April 6). Similar unrest had occurred earlier during the final Friday prayers of Ramadan. Thousands had gathered for dawn prayers at the Mosque. Israeli authorities reported that some worshippers had begun chanting provocative slogans and setting off fireworks near police officers. Additionally, 16 Palestinians were detained outside the compound, according to the Israeli police statement.<br/> <br/>#AlAqsa #IsraeliForces #TearGas #Worshippers #HolySite #IsraelPalestineConflict #Jerusalem #Violence #ReligiousTensions #ConflictResolution<br/>~PR.152~GR.125~ED.194~HT.96~")
⏲ 2:19 👁 1.5M
_starting-over-again-124-by-natalie-cole-124-lyrics-video-keirgee.webp "KeiRGee Vibes")
_if-you-want-to-win-consistently-at-keno-try-this-strategy.jpg)
_why-the-worlds-top-travel-brands-are-courting-indian-tourists-124-forbes.jpg)
_live-cashing-in-on-keno-in-las-vegas.jpg)
_36100-turns-into-huge-win-on-keno-started-on-firelink-then-ended-with-keno-ring-that-bell.jpg)
_124-beguni-124-recipe-by-saida.jpg)
_max-bet-cleopatra-keno-bonus.jpg)
_al-aqsa-violence-rock-the-holy-site-israeli-forces-fire-tear-gas-at-worshippers-124-oneindia.jpg)
_starting-over-again-124-by-natalie-cole-124-lyrics-video-keirgee.jpg)
![[+]](/images/menu.gif){kind=small}