Jacqueline Kent Cooke: Heiress Arrested

I'm not rich I make $53k a year, but my daughter is the same age, in a private university $34k and it is called getting loans.......not like she won't be able to play them back.

$50k a year and she "can't pay for school"??

Please. Does anymore really need to be said?

It despends on where she goes. My tuition now is only about 10k, but at Tulane, $50k a year doesn't cover tuition, housing, meal plan and books for a year, so she may not be able to pay for school

It despends on where she goes. My tuition now is only about 10k, but at Tulane, $50k a year doesn't cover tuition, housing, meal plan and books for a year, so she may not be able to pay for school

This will be misconstrued...

I understand that she will be given a ton of money per year for the rest of her life, so she should just be taking out student loans. She would easily pay for school then and not have to worry about the repayment because of the amount she will be getting.

Another question, why is she so concerned about attending college. I'm taking out huge amounts in loans to afford school and such, if I had guaranteed "income," there's no way I'd deal with college. I'd get a weak, no skills required job and put it in cruise control for the rest of my life.

[quote=skinsfan69;454619]it just seems like a small % to leave your oldest living son that was running your football team. you're worth 800 mil or a billion and you leave the person you're probably closest to 25 mil? i know john got 10% of the sale from the team. i know that's a shitload of cash. but why not leave the team to your own son and keep it in the family? i could never understand why jkc did that.quote]

I can tell you why he did that.

The US Estate Tax (Title 26 USC) taxes the Gross estate at about 55%.

55% of $800m is $440m.

The payment must be made in cash.

The problem is the gross estate consisted of (mostly) the Washington Redskins, a non-cash asset.

There simply was no cash to pay that kind of tax.

The estate tax does NOT apply to amounts left to a charity, hence the JKC Foundation was born.

It is a standard estate planning device.

Ask Warren Buffet, Bill Gates, Etc.

J-Dawg.

JKC was a mean old bastard. If I had that kind of money I'd leave everything to my family memebers. Not to some trust which happens to be a bunch of people who worked for him. It makes no sense. He only left his own son 25 mil or so out of a billion?? That's crazy.

and don't forget the fact he also did'nt leave his son the redskins!
he also had to be in his 80s when he fathered this girl too.

I can tell you why he did that.

The US Estate Tax (Title 26 USC) taxes the Gross estate at about 55%.

55% of $800m is $440m.

The payment must be made in cash.

The problem is the gross estate consisted of (mostly) the Washington Redskins, a non-cash asset.

There simply was no cash to pay that kind of tax.

The estate tax does NOT apply to amounts left to a charity, hence the JKC Foundation was born.

It is a standard estate planning device.

Ask Warren Buffet, Bill Gates, Etc.

J-Dawg.Good info.

Pardon me while I shed NOT A SINGLE TEAR for this young woman or for anyone else in JKC's family.

There are folks in the US-of-A who have lots of real economic problems in their lives.

There are folks in Darfur who might be eating dirt boiled in water as a soup for dinner tonight.

Those kinds of folks deserve sympathy; this twit does not!


First I agree with you and your post was 100% right on ,till you called her a twit.Everyone has problems and hers might not be as bad as yours and I understand that.I just don't think she deserves the hatred thrown at her in this thread( now maybe her Mom does) but I think the kids has enough problems .

First I agree with you and your post was 100% right on ,till you called her a twit.Everyone has problems and hers might not be as bad as yours and I understand that.I just don't think she deserves the hatred thrown at her in this thread( now maybe her Mom does) but I think the kids has enough problems .

A lot of the hate is coming from the fact that in everyone's mind, including my own, is the fact that her father left her a large sum of money that everyone on the boards would love to have, and she's bitching and complaining about not getting more of her father's money.

And besides, her mother was married to JKC for only a few weeks before they divorced. It's not like she should get a large lump sum because her mom was married to a guy 40 years older than her for a few weeks. I mean she's getting 50 grand a year now, but when she turns 21 that jumps to 100 grand, and then when she turns 30, I think, she becomes a millionaire. That's basically 50 grand for free right now, she could stay jobless for the entire year and she still earns more than the lower class population. I mean if she needed the money that bad for college, take out a loan, and promise to pay it back when she turns 21 or 30.