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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 👁 3.7M
Daniel Izzo
⏲ 1 minute 43 seconds 👁 60.6K
NotaRubicon Productions
⏲ 15 minutes 45 seconds 👁 18.8K
Another slow start plagued the Renegades, moving them to 0-5 on the year with a loss to the San Antonio Brahmas, 25-15. This game started out like how most games start out for San Antonio, and that’s with points. Coming into gameday, the Brahmas were 1st in the league with 17 opening drive points this season, meanwhile, the Renegades failed to score on their opening drive and remain the only team to not have any opening drive points this season.<br/><br/>The game started off strong on the ground for the Brahmas, as they broke off two huge runs including a 36-yard gain on the first drive, which led to a field goal. San Antonio ended the quarter with 93 rushing yards, more than doubling their total from the previous week, 40.<br/><br/>The Renegades regained momentum later in the half when QB Luis Perez hit Javonta Payton over the top with a 54-yard strike right before halftime kept them in the game, making it a 6-pt game at the half. From there, the game became a slugfest, excitement coming to a screeching halt. Arlington failed to finish drives on the day, converting a dreadful 3 of 14 on 3rd downs. Settling for field goals was a huge theme however, on the bright side for the Renegades, that allowed new kicker Jonathan Garibay to impress, hitting 3 of 4 on his attempts.<br/><br/>The biggest play of the game came after the Brahmas broke the 15-15 tie early in the 4th with a goal line punch in from one yard out with John Lovett. The Renegades had the ball at their own 40-yard line and decided to go for it on 4th and 1 instead of punting it.<br/><br/>I got Arlington coach Bob Stoops’ insight on why he went for it, he stated, “If I had more confidence in our defensive stops, I might’ve said hey, let’s just punt it …but I didn’t.” San Antonio was 5 of 10 on 3rd & 4th downs, and that proved to be the difference in the game.<br/><br/>Despite the loss, QB Luis Perez sets another record, becoming the first QB in UFL history to eclipse over 1,000 yards passing. Saturday he went 26-36 for 270 yards and 1 TD, a consistent line with the ones he’s been putting up all season long. Javonta Payton continues his impressive season, as he surpasses 100 yards receiving for the 2nd time this season.<br/><br/>The Renegades travel up to Michigan to take on the Michigan Panthers next Sunday. Stay tuned for all things Renegades.<br/><br/>
⏲ 1:58 👁 4.1M
OU Education
⏲ 6 minutes 15 seconds 👁 3.5K
Dr. Sahana, S Associate Professor
⏲ 25 minutes 14 seconds 👁 2.6K
A lazy muscle leads to the most tender meat, but only one cut of steak is the tenderest. Both filet mignon and ribeye are absolute treats at the dinner table, so what exactly is the difference?
⏲ 10:19 👁 10.1M
Prepare Studies
⏲ 4 minutes 2 seconds 👁 23K
Digital Techsol
⏲ 6 minutes 43 seconds 👁 2.1K
'The Idea of You' Author Robinne Lee says it's \
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Cognito
⏲ 4 minutes 38 seconds 👁 150.3K
Codan Communications
⏲ 5 minutes 21 seconds 👁 58.3K
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