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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 👁 13M

Fitment Industries

So You Want A Lexus GS300

⏲ 10 minutes 8 seconds 👁 120.7K

1A Auto: Repair Tips u0026 Secrets Only Mechanics Know

Top 5 Problems Lexus GS300 Sedan 2nd Gen 1997-05

⏲ 8 minutes 12 seconds 👁 105.9K

What should you be aware of when headed abroad this year?

Travel: Tourism tax and Foreign Office warnings

⏲ 1:5 👁 8.6M

PurSkyលក់ឡានមួយទឹក

GS300 prices $9900 full have tax

⏲ 2 minutes 9 seconds 👁 36

Jamie_FYD

WHY DOES NO ONE BUY THE LEXUS GS300?! **BUDGET DAILY**

⏲ 12 minutes 23 seconds 👁 20.3K

John Swinney acceptance speech<br/><br/>What are the key challenges facing John Swinney as First Minister and SNP leader?<br/>Mr Swinney was confirmed as the new leader of the SNP on Monday<br/><br/>John Swinney will not have his troubles to seek. The new SNP leader, who will become Scotland’s seventh first minister this week, inherits a number of problems both in his party and in the country at large. He will be all too aware of the difficulties ahead.<br/><br/>His predecessor, Humza Yousaf, never really managed to get on the front foot. Within days of him taking office last year, the police investigation into the SNP’s funding and finances exploded into the headlines. It has haunted the party ever since.<br/><br/>Mr Swinney will seek to heal internal divisions and boost his party’s fortunes in the polls ahead of an expected general election later this year. He has also emphasised the importance of economic growth. So what are the key challenges he faces?<br/><br/>A clear vision<br/>Mr Swinney will want to set out a clear strategic direction for his party. This is something his predecessor arguably struggled to do. Mr Yousaf hiked income tax for higher earners at the same time as freezing council tax, which some saw as sending a muddled message.<br/><br/>“Is this a guy who has demonstrated clear strategic direction?\

John Swinney acceptance speech

⏲ 11:21 👁 18.2M

Humphrey Yang

Why do so many people drive G-Wagons? Section 179 Tax Code Explained!

⏲ 56 seconds 👁 537.1K

The Car Care Nut

This Lexus Model Has a Heritage That's Unknown to Most! Be Careful Buying One!

⏲ 19 minutes 12 seconds 👁 145.9K

Could you be sitting on a goldmine of forgotten savings, pensions and investments? We explain to track down your lost cash

There's Billions Of Unclaimed Cash - Have You Forgotten About Money In Investments, Tax Rebates?

⏲ 3:50 👁 33.7M

Wicked Stocks

Tesla Stock Analysis | Top Levels and Signals for Wednesday, May 8th, 2024

⏲ 8 minutes 28 seconds 👁 1.5K

The Car Guy Online

Lexus dealers struggling to sell cars. If you hated MONEY, which one would you buy in 2024?

⏲ 4 minutes 50 seconds 👁 16.7K

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