Jacqueline Kent Cooke: Heiress Arrested

[GTripp0012]

Originally Posted by jgalecpa

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.

[Giantone]

Originally Posted by sportscurmudgeon

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 .

[mooby]

Originally Posted by Giantone

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.