_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 3dcg missionary age difference 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: 5.2M times
✓ Published: 07-May-2024
👁 View: 5.2M times
✓ Published: 07-May-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
_lds-church-announces-historic-changes-to-missionary-age-requirements-10-6-12.webp "Jeramy Richter")
⏲ 1 minute 36 seconds 👁 879
_chasiv-yar-the-next-target-on-ukraine39s-frontlines-124-dangers-of-russian-victory-124-oneindia-news.webp "Chasiv Yar, just ten kilometres west of Bakhmut, is widely seen as Russia’s next target on the Ukrainian frontlines. Analysts say Moscow is trying to push home its advantage before fresh US aid can make a difference. DW’s Nick Connolly sends us this report from the outskirts of Chasiv Yar. <br/> <br/> <br/>#ChasivYar #UkraineFrontlines #RussianVictory #WarDangers #RussiaUkraine #GeopoliticalConflict #MilitaryStrategy #InternationalRelations #SecurityThreats #ConflictAnalysis<br/>~HT.178~PR.152~ED.194~GR.124~")
⏲ 3:26 👁 6.5M
_the-church-lowers-age-requirement-for-missionaries.webp "Following Jesus - TheLDSLife")
_mormon-missionaries-amp-dating-before-missions-124-3-mormons.webp "Saints Unscripted")
_why-i-say-mormon-isn39t-christian-though-i-wish-it-was.webp "Mike Winger")
_can-mormons-and-ex-mormons-see-eye-to-eye-124-middle-ground.webp "Jubilee")
_grant-williams-39dissapointed39-by-no-tribute-video-from-celtics-124-interview-w92-cedric-maxwell.webp "Hornets forward Grant Williams talks about his reputation since splitting his season between Dallas & Charlotte, playing with Kyrie Irving and Luka Doncic, and the difference between playing for former Celtics head coach Ime Udoka and Joe Mazzulla.<br/><br/>0:00 Grant Williams joined the show<br/>2:30 Grant on getting trading from Dallas<br/>3:25 Grant on people saying he’s a bad locker room teammate<br/>9:30 Tatum defends Grant<br/>11:07 Playing Tatum and playing with Luka <br/>15:35 Grant on his personality <br/>18:48 How Grant started playing ball<br/>20:20 Kyrie Irving in Dallas<br/>26:44 Mazzulla vs Udoka<br/>31:13 Grant on Ime Udoka suspension<br/>33:05 NBA officiating<br/>37:00 Grant on being traded to Charlotte<br/>42:10 Grant on no tribute video<br/>44:05 Boston fans showed love to Grant<br/>46:25 Grant Williams NBA Finals Prediction<br/><br/>Get in on the excitement with PrizePicks, America’s No. 1 Fantasy Sports App, where you can turn your hoops knowledge into serious cash. Download the app today and use code CLNS for a first deposit match up to $100! Pick more. Pick less. It’s that Easy! Go to https://PrizePicks.com/CLNS<br/><br/>Take the guesswork out of buying NBA tickets with Gametime. Download the Gametime app, create an account, and use code CLNS for $20 off your first purchase. Download Gametime today. Last minute tickets. Lowest Price. Guaranteed. Terms apply.")
⏲ 51:10 👁 9.8M
_a-day-in-the-life-of-a-latter-day-saint-missionary-at-the-mtc.webp "Church Newsroom")
_lds-church-announces-historic-changes-to-missionary-age-requirements-10-6-12.jpg)
_chasiv-yar-the-next-target-on-ukraine39s-frontlines-124-dangers-of-russian-victory-124-oneindia-news.jpg)
_the-church-lowers-age-requirement-for-missionaries.jpg)
_mormon-missionaries-amp-dating-before-missions-124-3-mormons.jpg)
_why-i-say-mormon-isn39t-christian-though-i-wish-it-was.jpg)
_can-mormons-and-ex-mormons-see-eye-to-eye-124-middle-ground.jpg)
_grant-williams-39dissapointed39-by-no-tribute-video-from-celtics-124-interview-w92-cedric-maxwell.jpg)
_a-day-in-the-life-of-a-latter-day-saint-missionary-at-the-mtc.jpg)
![[+]](/images/menu.gif){kind=small}