Until recently, the IRS has said little (if anything) regarding whether assets the beneficiary of an irrevocable trust receives get a step up in basis following the Grantor’s death. With issuance of Revenue Ruling 2023-2, that has changed. The IRS has spoken. In RR 2023-2, the IRS posed the following hypothetical which I’ve edited slightly: […]
Blog
Filter by
Recent Posts
- There are only six legal reasons to discharge a nursing home resident
- 2026 Statewide Average Monthly Private Pay Rate for Determining Transfer of Assets
- Medicaid Fair Hearing Dismissed Where Estate was Not Opened
- Medicaid Verification: When the Agency is Required to Help
- Medicaid Estate Recovery – 50 States
