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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 👁 12.9M

ABC10

Extended unemployment benefits delayed in California

⏲ 2 minutes 16 seconds 👁 9.6K

CNN

Gov.: Extend unemployment benefits

⏲ 6 minutes 44 seconds 👁 2.7K

Sadiq Khan left his Tory opponent Susan Hall “hanging” on stage, after she tried to congratulate him on his re-election by shaking his hand.Ms Hall, who lost out to the Labour mayor by over 275,000 votes, extended her arm after it was formally confirmed that he had defeated her.

Defeated Susan Hall 'left hanging' as she tries to shake Sadiq Khan's hand

⏲ 0:39 👁 55.6M

9NEWS

What to expect as extended unemployment benefits end

⏲ 3 minutes 9 seconds 👁 6.2K

NBC4 Columbus

Extended unemployment benefits

⏲ 2 minutes 44 seconds 👁 5.9K

Shania Twain defies aging as she takes us through her nighttime routine and beauty secrets. Here, the Queen of Country Pop shares her makeup removal hack using household staples like olive oil and sugar—a trick she's sworn by since she was a teenager. Shania also empowers us to embrace our natural beauty and highlights the positives of aging, including the benefits of menopause.<br/> <br/>Get tickets for Shania Twain’s Las Vegas residency, ‘Come On Over,’ here: https://www.ticketmaster.com/shaniavegas<br/> <br/>#ShaniaTwain #GoToBedWithMe #BAZAAR

Shania Twain Removes Her Makeup With Olive Oil & Sugar | Go To Bed With Me | Harper's BAZAAR

⏲ 5:6 👁 16.1M

Late Night with Seth Meyers

Judge Threatens to Jail Trump Over Gag Order, Finds Him in Contempt for 10th Time: A Closer Look

⏲ 11 minutes 43 seconds 👁 555.6K

KGW News

Issues with unemployment benefits in Oregon predate new computer system, state agency says

⏲ 4 minutes 45 seconds 👁 91

A proud \

⏲ 2:27 👁 5.1M

Forbes Breaking News

Senate Commerce Committee Holds Hearing About Major Broadband Affordability Programs

⏲ 2 hours 9 minutes 31 seconds 👁 715

PBS NewsHour

As benefits expire, long-term unemployed make do with less

⏲ 7 minutes 59 seconds 👁 179K

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