Posted on 05/09/2006 4:17:23 AM PDT by AmericanDave
Thuss said he's upset that the university and museum received the bulk of Denman's wealth about $24 million by his lawyers' estimates but now seem to be ignoring Denman's wishes to keep El Capote intact.
(Excerpt) Read more at mysanantonio.com ...
His intent was clear.
"any tax" can only be twisted by the lawyers...
I hope the kid wins and I hope they University and Museum are forced to pay his court expenses. They aren't worthy of the donation.
Your links are bad and there is not enough here to make any sense out of what is going on.
It seems to work now
I'll check it out, but two other people have had no problem.
Yes, I think we need to put a little pressure on those two organizations, they will lose more in the long run if people stop giving to them!
One would think all taxes, i.e. the "any taxes", should be paid before any division to the heirs/recipients. Actually, the death tax is wrong on so many levels and should be done away with.
That's some thanks...
I hope it works out for the 2 heirs to keep the family ranch - but I fear the worse. It sickening how these organizations like Trinity & the San Antonio Museum of Art who have already profitted handsomely from the estate show no heart.
I hope Thuss has a great attorney - he certainly needs one to work against the brain trust of Trinity.
Unless otherwise directed pursuant to the governing instrument by specific reference to the tax imposed by this chapter, the tax imposed by this chapter on a generation-skipping transfer shall be charged to the property constituting such transfer.
The law seems to be on the side of the charity. It says the GST needs to be mentioned "by specific reference". I don't think ALL cuts its worth a shot.
I thought Clinton's license was suspened.
FWIW, the estate tax is a "transfer" (a tax on the transfer of property). When the sales tax advocates claim how easy their tax would be over the income tax keep in mind complexities like this case.
IF the deceased willed the money to the charities, it belongs to the charities. THe grandson should bear no responsibility for the taxes if he didn't receive the estate. Period.
I would have just written in "Kennedy" or "Kerry" Tax schedule and be exempt.
TT
Thanks, I guess the old guy wasn't up on his tax code. I think his intent was still clear though (well clear for people, not for lawyers, LOL).
"FWIW, the estate tax is a "transfer" (a tax on the transfer of property)."
STill a TAX..
So when you say ALL, that's not specific enough. I wonder why the lawyers got THAT written in...... /sarc off.
The idea that an attorney with that much of an estate would not have a practicing lawyer draft something is troublesome to me. I wonder if this handwritten thing is a supplement to the orignal will and whether its origin might have been questionable anyways.
I have seen instances where excluded beneficiaries forced and/or maybe forged doc's.
I don't think so unless the document references the GST tax itself. ALL is ALWAYS used when this law was written and to assume ALL means ALL would render this language unnecessary.
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