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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 👁 14.6M

Richard Stover

Stover’s new apartment

⏲ 51 seconds 👁 5

Barbra Stover

Stover Estates Luxury Property Specialist

⏲ 1 minute 23 seconds 👁 456

Europe is the hottest market for swapping property for cryptocurrencies, according to the founders of asset-backed cryptocurrency Unicoin.

Buying a piece of an island: How crypto could change property deals

⏲ 5:35 👁 5.9M

Real Estate Media

5 Bedroom For Sale | Meyersdal Nature Estate

⏲ 4 minutes 52 seconds 👁 41.1K

Tri-Blend Media

Dan Bilzerian NEW HOUSE - 10979 Chalon Road, Bel Air CA

⏲ 5 minutes 1 second 👁 4M

One of the world’s most significant homes, ‘Wingadal’ in Sydney’s exclusive Point Piper is offered for sale.‘Wingadal’ is the largest waterfront estate off Australia’s premier residential address, encompassing 2676 sqm of land and 98-metres of harbour frontage with front row views of the Sydney Opera House and the Harbour Bridge.

Australia's most expensive house is up for sale

⏲ 3:10 👁 53.6M

Inside Edition

Why This Couple With 38 Kids Won't Stop Adopting Children

⏲ 11 minutes 15 seconds 👁 3.6M

Ryan Serhant

Touring A Massive $188 Million California Mega Mansion | Ryan Serhant Vlog #038

⏲ 11 minutes 43 seconds 👁 9.8M

New homes built in the middle of a housing estate have angered residents who claim developers have built them in the wrong place and 1.8m higher than planned.

Lydbrook Close resident asks 'who's telling the truth?' following years of planning permission confusion

⏲ 0:48 👁 38.1M

Hussein Kabani

Inside this $799,000 Freehold Pickering Townhome | Walkthrough of 1873 Liatris Drive

⏲ 2 minutes 18 seconds 👁 268

Arjay Val

APARTMENT HUNTING IN LA! (touring 10 apartments with prices)

⏲ 9 minutes 36 seconds 👁 4.8K

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