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Keyword: inheritance

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  • Vermont man charged with killing his mother at sea for $7M inheritance

    05/10/2022 4:08:56 PM PDT · by ChicagoConservative27 · 28 replies
    Nypost ^ | 05/10/2022 | Jack Hobbs
    A Vermont man was indicted Tuesday on charges that he let his mom drown in order to get his hands on his $7 million inheritance. Nathan Carman, 28, is facing eight counts in the 2016 murder of Linda Carman in Rhode Island in a bid for the titanic payoff.
  • Proposed Confiscation of Assets on Death

    08/19/2021 7:00:06 AM PDT · by Kaslin · 49 replies ^ | August 19, 2021 | Hank Adler
    Under the Biden administration’s tax proposal, an appreciated real estate asset owned at death could result in income taxes due that exceed the net proceeds from sale of the asset after paying existing debt. Yes, having an asset where the fair market value of the asset is greater than the debt could result in taxes at death that exceed the net value of the real estate. Currently, an individual must have net assets in excess of $11.7 million to be subject to zero estate taxes. The proposed Biden capital gains tax at death proposal would subject individuals with net assets...
  • Tax experts slam Biden's mess of a 'double death' tax

    06/17/2021 2:42:35 PM PDT · by packagingguy · 63 replies
    Daily Mail (UK) ^ | 17 June 2021 | ROB CRILLY
    Biden wishes to double tax inheritances. This will spell the end of small family fortunes.
  • Jean Kennedy Smith, last surviving sibling of JFK, dies at 92

    06/19/2020 3:54:59 AM PDT · by sodpoodle · 12 replies
    WRAL/CNN ^ | 6/18/2020 | Veronica Stracqualursi and Kevin Bohn, CNN
    Jean Kennedy Smith, a former diplomat and the last surviving sibling of President John F. Kennedy, died Wednesday in New York, her daughter, Kym Smith, told CNN. She was 92. "It is the end of an era," Kym Smith said of her mother's passing. "She lived a great life" and was vibrant up until her death, her daughter told CNN. Smith was the youngest daughter of Rose and Joseph Kennedy, born in Boston, Massachusetts, on February 20, 1928. She was the eighth child out of nine in a family that was such a major force in American politics and society...
  • New York Times Op-Ed: Rich Kids Can Spare Some of Their Inheritance

    10/16/2019 9:11:43 AM PDT · by SeekAndFind · 80 replies
    New York Times ^ | 10/16/2019 | Henry Aaron
    In America, if you play by the rules, working to earn a living and saving to provide for the future, taxes take a piece of your earnings. If you win a state lottery, you owe tax. But if you get lucky in the lottery of life and land an inheritance, you owe no federal tax. That isn’t fair, is it? Extending the federal tax code to include inheritances would end that inequity. Inheritance taxes — regulated differently in the states that have them — are a levy paid by a person who inherits money or property of a person who...
  • Damian Hurley, Elizabeth Hurley's son could be cut from family trust for being ‘born out of wedlock’

    03/13/2019 9:56:31 AM PDT · by SeekAndFind · 50 replies ^ | 03/13/2019 | Alexis Carey
    His businessman father is worth an estimated $853 million — but Damian Hurley’s grandfather is trying to stop him from getting a cent. The biological grandfather of Elizabeth Hurley’s only son is waging a nasty legal battle to stop the teen from inheriting any of the family fortune. The Austin Powers actress gave birth to her only child, Damian Charles Hurley, in 2002 after a brief fling with US businessman Steve Bing. Mr Bing has an estimated net worth of $US600 million ($AU853 million), with the bulk of his fortune coming from his grandfather, New York real estate baron Leo...
  • The Birth of the New American Aristocracy

    05/29/2018 4:45:38 PM PDT · by proxy_user · 39 replies
    The Atlantic ^ | June 2018 | Matthew Stewart
    I’ve joined a new aristocracy now, even if we still call ourselves meritocratic winners. If you are a typical reader of The Atlantic, you may well be a member too. (And if you’re not a member, my hope is that you will find the story of this new class even more interesting—if also more alarming.) To be sure, there is a lot to admire about my new group, which I’ll call—for reasons you’ll soon see—the 9.9 percent. We’ve dropped the old dress codes, put our faith in facts, and are (somewhat) more varied in skin tone and ethnicity. People like...
  • Should British Millennials get $13,500 to reduce young-old inequality?

    05/08/2018 3:38:08 PM PDT · by risen_feenix · 33 replies
    My ND Now ^ | 05/08/2018 | Keith Darnay
    Should young people in the United Kingdom be given £10,000 ($13,500) when they turn 25? A top think tank says yes. The proposal from the Resolution Foundation is one of a number of suggestions for reducing inequality between the young and old. British Millennials and their peers in other developed countries have fallen behind older generations when it comes to wealth, income and home ownership, a trend that politicians have been slow to address in the wake of the global financial crisis. "We need not just some tinkering, but some big and dramatic solutions," said Matt Whittaker, deputy director at...
  • How to (legally) protect a small inheritance from the IRS?

    04/22/2018 12:37:24 PM PDT · by lee martell · 163 replies
    April 22 2018 | Lee Martell
    Remember that song by Tom Jones; "I who have nothing!". That pretty much describes me. I'm near 62 y/o, working part time. I hope to keep working at least for the next eight to ten years, then start taking my Social Security. I have no savings to speak of. I will always owe the IRS something from unpaid student loans or wrongly filed tax statements. Most times I don't receive any return at all, it's simply 'absorbed' and paid out to the Govt. The one bright spot is that due to a sibling's death last year, I have received about...
  • Accused Parkland killer wants to give inheritance to victims: Attorney

    04/12/2018 4:33:24 AM PDT · by BBell · 22 replies ^ | 4/11/18 | BILL HUTCHINSON
    The alleged gunman in the Valentine's Day massacre at Marjory Stoneman Douglas High School in Florida wants to give any inheritance due him from his late mother's estate to the victims' families or an organization that will help the community heal, his attorneys said Wednesday. Nikolas Cruz, 19, appeared at a hearing in Broward County Circuit Court in Fort Lauderdale to determine whether he is truly indigent or if he stands to collect up to $800,000 from his late mother's estate and various other financial accounts in his name. It was previously determined that Cruz could not afford his own...
  • A Cautionary Tale of Guns and Inheritance

    12/04/2017 5:30:10 AM PST · by marktwain · 31 replies
    Gun Watch ^ | 25 November, 2017 | Dean Weingarten
    A recent experience shows how problems can occur with guns and estates.  I was involved in this. My involvement occurred 27 years ago. In 1990, an elderly relative wanted expert advice on obtaining a firearm. Her husband had recently died. She wanted to have a gun in the house, and wasn't comfortable with pistols. She was already frail and did not have much upper body strength. I recommended a .22 semi-auto, which she could keep handy. She could keep the chamber unloaded. It would be easy to charge and put into firing condition. The Brazilian copy of the Remington...
  • Jerry Lewis Left All Six Children from His First Marriage Out of His Will

    09/22/2017 1:09:35 PM PDT · by EveningStar · 131 replies
    People Magazine ^ | September 21, 2017 | Mike Miller
    Jerry Lewis certainly got in the last laugh when it came to his strained relationship with his children. According to his Last Will and Testament, provided to PEOPLE by The Blast, the funnyman emphatically cut out all six children he had with his first wife Patti Palmer — meaning they will [inherit] nothing.
  • Beneficiary of Prudential accounts. Need help.

    08/17/2017 6:59:05 AM PDT · by Danette · 14 replies
    Me | August 17, 2017 | Me
    I am a named beneficiary along with 4 other siblings of my mother's Pruco Securities non-qualifying Command account. My mother passed away on July 19th.
  • Sons File Lawsuit Over Actor-Politician Fred Thompson's Estate

    08/02/2016 5:48:49 PM PDT · by Extremely Extreme Extremist · 31 replies
    NASHVILLE, Tenn. - A legal battle has erupted over the estate of former U.S. Senator Fred Thompson. That legal battle comes in the former of a lawsuit filed late Tuesday by Thompson's two adult sons -- nine months after the death of the actor turned politician. In the complaint, sons Tony and Dan Thompson question a flurry of changes to their father's estate in the days before his death back in November.
  • Memo to parents: Your adult kids don't want your stuff

    04/14/2016 12:27:24 PM PDT · by metmom · 185 replies| The Times-Picayune ^ | April 11, 2016 | Marni Jameson
    Parents of grown children, please sit down. I have some harsh news for you. Your kids don't want your stuff. Don't take it personally. It's not that they don't love you. They don't love your furniture. The china hutch, the collectible figurines, your antique map or thimble collection, the sideboard, all those family treasures may hold many precious moments for you, but for your kids, not so much. Ouch. Yes, I know you think you're being generous. Yes, I know you paid good money for these things. Yes, I know kids can seem unappreciative. Yes, I know it was part...
  • When Family Fortunes Beget Vicious Power Struggles

    02/12/2016 6:18:59 AM PST · by SeekAndFind · 9 replies
    New York Times ^ | 02/12/2016 | By JAMES B. STEWART
    Consider the plight of Shari Redstone, the daughter of the billionaire media mogul Sumner Redstone. Much of her family's fortune is tied to the ailing 92-year-old Mr. Redstone. He owns 80 percent and she owns 20 percent of National Amusements, the private business that controls two giant media companies -- Viacom and CBS. Upon Mr. Redstone's death, his interest passes to a trust with his grandchildren as beneficiaries. But Mr. Redstone hardly set the stage for an orderly transition. He stubbornly held on so long as executive chairman of both CBS and Viacom that shareholders began to question his ability...
  • Mark Zuckerberg plans to toss 44 billion dollars in the garbage

    12/02/2015 7:32:41 AM PST · by SeekAndFind · 35 replies
    American Thinker ^ | 12/02/2015 | Ed Straker
    If you were wealthy and your first child was just born, what would be the first thing you would do? Give away all your money so your child would get almost nothing, right? Well, that's the decent parental instincts of Facebook's Mark Zuckerberg, who penned an open letter to his newly born daughter telling her that she would never, ever see 99% of the 45 Facebook billion dollars he had made. His daughter Max will surely appreciate his noble gesture. Instead, he plans to give it all to his charitable foundation, I mean his LLC, the Chan Zuckerberg Initiative. In...
  • Has SCOTUS Created a Way to Get Around the Estate Tax?

    06/28/2015 2:11:42 AM PDT · by 2ndDivisionVet · 26 replies
    American Thinker The Blog ^ | June 28, 2015 | Vel Nirtist
    Sometimes, at a most solemn moment, a most irreverent thought shoots through the mind. When I heard that the US Supreme Court legalized gay marriage, my thought was "I wonder what the estate tax lawyers will make of it?" How about advising a terminally ill widowed grandma to marry her much-beloved granddaughter at the deathbed? Won't the estate pass to the surviving spouse intact? I'm not a lawyer, but I think it will -- without IRS getting the bite out of it as would happen now. And it would be very hard to have a sound legal argument against such...
  • Follow Sweden: Kill the Inheritance Tax Now

    04/17/2015 7:43:15 AM PDT · by SeekAndFind · 9 replies
    National Review ^ | 04/17/2015 | The Editors
    Class warriors on the left argue that the United States should be more like Sweden, and we agree: Senate Republicans should move forward with a plan to repeal the inheritance tax, which the House passed Thursday. Sweden had an inheritance tax for 110 years, and though the rate was sometimes quite high, the tax never became an important source of revenue. In the United States, the hated death tax produces only a fraction of a percentage point of federal revenue, though it imposes very heavy costs on a small number of families and businesses. In Sweden, the tax provoked various...
  • Your Inheritance May Be a Strange Experience

    03/15/2015 8:15:45 AM PDT · by Kaslin · 25 replies ^ | March 15, 2015 | Bruce Bialosky
    A theme that dramas and soap operas have dwelled on is the spats people can have over what their ancestors may leave for them. Life imitates art has been my experience seeing relatives squabble over the dead carcasses, but some have taken the issue to heart in a new television series on the Fox Business Network (FBN) called Strange Inheritance. The episodes I watched did not involve fisticuffs, but they incorporate many of the same decisions that one has to confront upon the death of a loved one. First, there are the wishes of the dear departed. What did the...