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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.
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FRANCE 24 English
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ThePrint
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Today in Hyderabad, a fierce contest is anticipated between BJP's Kompella Madhavi Latha and AIMIM president Asaduddin Owaisi, a four-time MLA from the same constituency. BJP's decision to field a staunch advocate of Sanatan Dharma and traditional values intensifies the battle in what is considered an AIMIM stronghold.<br/> <br/>Remarkably, this marks the first time the saffron party has nominated a woman for this seat. Latha emphasized the significance of voting, stating it's crucial for citizens to participate as it brings about change and development for individuals, families, and marginalized communities. <br/> <br/> <br/>#MadhaviLatha #AsaduddinOwaisi #Modi #HyderabadLokSabha #Indiaelections #LokSabhaPolls #Phase4Live #Indianews #Oneindia #OneindiaNews <br/>~PR.320~ED.102~HT.318~GR.123~
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ABC News
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TIME
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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.
⏲ 1:29 👁 1.8M
MSNBC
⏲ 9 minutes 25 seconds 👁 19.8K
MSNBC
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Baby Just Say Yes Uncut Full Movie - Full Episode
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We picked cities across the U.S. that are affordable and offer the amenities retirees value most. Plus, one of them is bound to be close to family.
⏲ 2:19 👁 4.6M
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.
⏲ 1:29 👁 2.3M
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