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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

VibesOnly

Baby Keem & Kendrick Lamar - Family Ties (Lyrics)

⏲ 4 minutes 20 seconds 👁 70.4K

Rap Paradise

Baby Keem x Kendrick Lamar - Family Ties (Lyrics)

⏲ 4 minutes 12 seconds 👁 20.6K

Lord of the Rings and Titanic star, Bernard Hill has died at the age of 79, his agent has confirmed.<br/><br/>The Manchester-born actor was best known for playing King Théoden in the fantasy trilogy, and took on the role of Captain Smith in Titanic in 1997.<br/><br/>However, his breakout role was in the BBC’s Boys From The Blackstuff in 1982.<br/><br/>Hill is the only actor to have appeared in more than one film that won 11 Academy Awards.<br/><br/>A statement from his family is expected shortly, and his cause of death is not yet known.

Lord of the Ring star Bernard Hill’s most memorable scenes following death aged 79

⏲ 1:34 👁 201.3M

Drake

DRAKE - FAMILY MATTERS

⏲ 7 minutes 38 seconds 👁 8.7M

CBS

Family Ties - Sin Against Capitalism

⏲ 2 minutes 30 seconds 👁 169K

Should Australia adopt a register of convicted family violence offenders? This is one of the proposals politicians are being asked to ponder in the wake of at least 35 women allegedly killed by male violence this year alone.<br/>Support is available for those who may be distressed. Phone Lifeline 13 11 14; Men’s Referral Service 1300 776 491; Kids Helpline 1800 551 800; beyondblue 1300 224 636; 1800-RESPECT 1800 737 732.

Does Australia need a family violence register?

⏲ 2:10 👁 12.5M

FTC8289

Family Ties - When The Keatons Meet Mallory's Boyfriend, Nick Moore

⏲ 2 minutes 33 seconds 👁 29.2K

Drake

⏲ 7 minutes 37 seconds 👁 1.1M

During a House Energy and Commerce Committee hearing on Wednesday, Rep. Morgan Griffith (R-VA) questioned Department of Energy Secretary Jennifer Granholm about energy costs, and the impact on working class families.<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/><br/>Stay Connected<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

'Might Be Fine For The Rich Folks': Morgan Griffith Hammers Sec. Jennifer Granholm's Energy Policies

⏲ 5:17 👁 7.2M

Hollywood Celebrity Classic

FAMILY TIES (1982) Cast: Then and Now 2023 🌟 THE ACTORS HAVE AGED HORRIBLY!!

⏲ 7 minutes 28 seconds 👁 11K

ManticoreEscapee

Family Ties Bloopers

⏲ 15 minutes 42 seconds 👁 68.1K

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