Posted on 09/29/2010 2:48:13 PM PDT by Texas Fossil
From what I have read it is considered a gift. I assume that means tax free.
“I did a little research... “
And that makes you a ‘Grade A’ Freeper- bless your heart!
Looks like it’s been going on for almost a hundred years, with the pension system in place now it isn’t needed and the practise should be discontinued.
His widow can drive down Byrd Highway over Byrd Bridge and deposit that check in the bank at Byrd Mall...
The idea behind this is to give the family enough money to pay for a fantastic burial and NOT be tempted to talk to news reporters about what was discussed over the family dinner table by the deceased.
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