IRS quietly changes rule on how your children's inheritance is taxed - here's what you need to know to avoid a shock bill

Title: IRS quietly changes rule on how your children's inheritance is taxed - here's what you need to know to avoid a shock bill

Article Snip: "Americans have turned to irrevocable trusts to protect their assets from spend-down in order to qualify for Medicaid...In the last decade, more families have begun utilizing 'irrevocable' trusts and the ruling will impact estate planning...Most families will not find themselves subject to estate tax when the value of their home is included because the current federal estate tax is only applicable to estates valued at $12.92 million or more. ... "

Reference: www.dailymail.co.uk

---

---