11 Sep IRS Revenue Ruling May Result In More Capital Gain Taxes For Beneficiaries Of Certain Irrevocable Trusts
Posted at 15:37h
in Beneficiary, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Taxes, Transfer of Death, Trusts
Earlier this year, the IRS made a revenue ruling whereby assets transferred into an irrevocable trust without certain elements of retained control by the grantor (the one who established the trust) would fail to be entitled to a “step-up” in basis. If an individual has...