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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
⏲ 1:29 👁 12.6M
NBC4 Columbus
The Street Value Of Your Medicine Cabinet
⏲ 3 minutes 45 seconds 👁 62.3K
CBS Chicago
2 Investigators: Pharmacy Workers Selling Prescription Drugs On The Street
⏲ 2 minutes 59 seconds 👁 27K
Paul McCartney Is Britain’s , First Billionaire Musician.<br/>The 'Sunday Times' Rich List was released <br/>on May 17, ABC News reports.<br/>The former Beatles member is now the first U.K. musician to achieve billionaire status.<br/>He's reportedly worth <br/>1 billion pounds ($1.27 billion).<br/>The British publication calculated that the 81-year-old's wealth grew by 50 million pounds due to his 2023 Got Back tour.<br/>the increasing value of his music and Beyoncé's cover of \
Paul McCartney Is Britain’s First Billionaire Musician
⏲ 1:30 👁 9.6M
Scriptulate
What's the difference between oxycodone and Oxycontin?
⏲ 35 seconds 👁 7K
Drug Talk
3 CRITICAL PERCOCET FACTS
⏲ 2 minutes 2 seconds 👁 28.7K
Sanctions after the invasion of Ukraine sent tanker values soaring, boosting the fortunes of these Greek maritime moguls to record highs and minting at least seven new 10-figure fortunes.<br/><br/>Forbes estimates there are now at least 12 shipping billionaires in Greece, more than at any other time in history. Seven of them are making their debut in Forbes’ billionaire ranks. They are worth a collective $32 billion—the equivalent of roughly 12% of the country’s gross domestic product.<br/><br/>These tycoons are the latest in a line of swashbuckling pioneers hailing back to iconic figures like Aristotle Onassis and Stavros Niarchos, who launched the global oil tanker trade after World War II and became famous for their glamorous marriages and lifestyles. This newer group has been in shipping for decades but kept a lower profile. (Despite their success, none would speak to Forbes, while their representatives either declined to comment or did not respond.)<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/05/13/meet-the-greek-shipping-billionaires-getting-rich-off-russian-oil/?sh=6323b9ce74f1<br/><br/>0:00 Introduction<br/>0:24 Greece's Presence In The Shipping Industry<br/>2:46 How Has Greece Made So Much Revenue With Shipping<br/>6:59 How Onassis and Niarchos Reached 10 Figure Status<br/>12:44 Tax Sanctions And Where It Applies In Greece<br/>15:20 How Long Will Greece's Shipping Boom Last<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.
Meet The Greek Shipping Billionaires Getting Rich Off Russian Oil
⏲ 17:15 👁 7.7M
NBC10 Boston
Addicts Using This 'Safe' Medication To Get High
⏲ 3 minutes 32 seconds 👁 125.2K
The Doctors
Learn about the Addictive Supplement Known as Gas Station Heroin
⏲ 3 minutes 34 seconds 👁 81.6K
The Italian club issued a statement saying Massimiliano Allegri’s conduct “was not in line with Juventus’ values”.
Juventus axe coach Massimiliano Allegri over referee flare-up in Italian Cup final
⏲ 0:35 👁 3.1M
ABC News In-depth
Sufferers with chronic pain being cut off from opioids | 7.30
⏲ 8 minutes 37 seconds 👁 17.9K
Peter Attia MD
Peter Attia’s Personal Experience with OxyContin after Back Surgery
⏲ 14 minutes 26 seconds 👁 25.1K
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