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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
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Geoff Buys Cars
Cheap Volvo 850 T5 Estate... Is it any good?
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Dadcars
This 960 Estate Proves Volvo NEED To Continue Making Estates And Saloons
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Just as you prepare for life’s significant events, it's equally crucial to anticipate your eventual departure and protect your loved ones from the burden of financial complications. Forbes contributor True Tamplin outlines how to tackle your assets.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/truetamplin/2023/10/31/4-questions-to-know-if-you-are-financially-prepared-to-die/?sh=4275a1864730<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<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/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<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<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Are You Financially Prepared To Die? 4 Ways To Plan For The Inevitable
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Simpson's Classics
I BOUGHT THE LAST TRUE VOLVO ESTATE - P2 VOLVO V70 D5
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Geoff Buys Cars
Volvo Estate Project Part 2 - Simple upgrades you can do at home!
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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 👁 4M
Panczel
Volvo 855, Mk1 V70 (P80 estate) blind roll repair tutorial for eBay kit
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Geoff Buys Cars
Building a Volvo 850 BTCC Estate Tribute in 2 minutes
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Self-storage center real estate investment trusts (REITs) are companies that specialize in owning and operating income-generating storage facilities, commonly known as self-storage centers. Self-store center REITs invest in properties where individuals and businesses can rent space to store their belongings, such as furniture, household items, business inventory, and vehicles of all types.<br/><br/>Investors in self-storage center REITs benefit from the income generated through leasing storage units to tenants. The demand for self-storage has been driven by various factors, including residential moves, downsizing, and businesses seeking additional space.<br/><br/>If you're interested in investing in a self-storage REIT, here are two you could buy today.
These Self-Storage REITs Yield Up to 4.9% And Have Track Records of Dividend Growth
⏲ 1:35 👁 2.4M
Scotty Kilmer
Here’s Why Old Volvos Last Forever
⏲ 5 minutes 16 seconds 👁 567.1K
CaiKeys
The Ultimate Driveable Brick - Volvo 940 Estate Review
⏲ 18 minutes 16 seconds 👁 449
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