tony39s inheritance Videos

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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.
⏲ 1:29 👁 13.2M
The Money Guy Show
⏲ 6 minutes 22 seconds 👁 4.7K
The Resource Center
⏲ 6 minutes 7 seconds 👁 5.7K
First, put all major decisions on hold. A financial planner can help you come up with a plan that addresses your goals, dreams and needs.
⏲ 2:25 👁 8.5M
Wise Money Show
⏲ 10 minutes 46 seconds 👁 829
The Money Guy Show
⏲ 5 minutes 59 seconds 👁 7.5K
Passing a farm, vacation home or other property down for generation after generation has its challenges. LLCs and partnerships can help.
⏲ 3:49 👁 890K
Your Money, Your Wealth
⏲ 4 minutes 29 seconds 👁 838
Vision Video
⏲ 1 hour 34 minutes 18 seconds 👁 7.7K
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.
⏲ 1:29 👁 2.3M
The Ramsey Show Highlights
⏲ 7 minutes 36 seconds 👁 58K
The Ramsey Show Highlights
⏲ 2 minutes 51 seconds 👁 501.3K
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