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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 👁 14.8M

euronews

Family value: Donald Trump eclipsed by Ivanka

⏲ 1 minute 2 seconds 👁 400

CNN

Ivanka Trump: Family separations issue 'was a low point'

⏲ 2 minutes 27 seconds 👁 21.8K

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 👁 10.1M

New York Daily News

Trump Family Values: Mom

⏲ 15 seconds 👁 2.2K

New York Daily News

Trump Family Values: Fatherly Advice

⏲ 24 seconds 👁 3.2K

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 👁 2M

CNN

Will Trump's daughter Ivanka influence the campaign?

⏲ 2 minutes 8 seconds 👁 141.8K

MSNBC

#ChrisChristie calls out #Ivanka and #jaredkushner

⏲ 39 seconds 👁 1M

Raebareli, Uttar Pradesh: In a heartfelt and emotional address to the people of Raebareli, Congress Leader Sonia Gandhi reminisces about the deep-rooted connection her family has with the land and its people. Recalling the legacy of Indira Gandhi and the special place Raebareli holds in their hearts, Sonia Gandhi emphasizes the values of respect, protection of the weak, and fighting against injustice that have been passed down through generations. <br/> <br/> <br/> <br/>#SoniaGandhi #SoniaGandhiRaebareli #SoniaGandhiSpeech #Raebareli #RahulGandhi #RahulGandhiRaebareli #PriyankaGandhi #AkhileshYadav #Raebareli #RaebareliRally #Oneindia<br/>~HT.178~PR.274~ED.101~GR.125~

Watch Sonia Gandhi's Heartfelt Address at Raebareli | Makes Emotional Pitch for Son Rahul Gandhi

⏲ 4:59 👁 1.3M

Access Hollywood

Ivanka Trump's Daughter Arabella Looks So Grown Up In Bat Mitzvah Pics

⏲ 2 minutes 5 seconds 👁 39.4K

MSNBC

‘Sometimes the bully needs to be slapped in the mouth!’: political analyst on Capitol Hill spat

⏲ 7 minutes 6 seconds 👁 4.5K

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