Estate planning, gift tax rules, and everything that happens when wealth passes from one generation (or person) to the next.
So maybe we were all wrong after all. After I posted that Tori Spelling stood to inherit a “significant portion” of her father’s estate, we find out that’s not necessarily true after all. Us Weekly is now quoting sources that say that 33-year-old Tori will inherit just $800,000 of her father’s estimated $500 million estate as…
Following on the heels of the Lillian Glasser saga, another member of a wealthy family in America is alleging mistreatment of the rich and famous at the hands of a child. In this case, it is multimillionaire Brooke Astor who is reportedly being mistreated by her 82-year-old son. Her grandson, Philip Marshall, is claiming that…
Yes, we can all sleep a little more soundly tonight… US Weekly (take that for what it’s worth) is reporting that Tori Spelling will receive a “significant portion” of her deceased father’s estate, despite rumors that indicated that Tori’s mother, Candy, tried to have her written out of the estate. Aaron Spelling, who died in…
Earlier this year, Congress again failed to repeal the federal estate tax. As many practitioners anticipated (including this blogger), Congress went back to the drawing board to produce a bill which modifies, rather than repeals, the existing tax. The proposed bill would: Reunify the estate, gift and generation-skipping transfer (GST) taxes. Increase the estate and…
From the Washington Post, an article that suggested that a repeal would hurt the “small rich”…
The Senate failed to garner enough votes to repeal the federal estate tax (again). For more from NPR, click here.
To make you consider even more tax cuts. Now that Congress has pushed through a $70 million tax bill, some Congressional officials are hoping to reintroduce discussion about a permanent federal estate tax repeal. You can read more here.
In what will surely add another year of fodder to the gossip rags, the US Supreme Court has unanimously ruled that Anna Nicole Smith (a/k/a Vicki Lynn Marshall) will be allowed to present her case again (and likely, again and again) in federal court in an effort to retrieve hundreds of millions of dollars from…
The continuing Glasser saga has taken yet another twist. On Friday, March 3, Judge Alexander P. Waugh, Jr. of the Superior Court of New Jersey, Chancery Division (Probate Part, Middlesex County) issued an order asserting jurisdiction over the Glasser guardianship matter, asking a judge in San Antonio to either dismiss the Texas case or transfer…
Oh, it’s almost too easy… There’s just so much to report about Anna Nicole and the ironies of her appearing at a Supreme Court hearing… And in front of Justice Thomas? But I digress (yes, at the start). As previously reported, Anna Nicole Smith is headed to the United States Supreme Court for a hearing…