Rita Benson Leblanc - 4/22/12 | TigerDroppings.com
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Souljah
Southern Cal Fan
Audubon Park VIA Kingston,Jamaica
Member since Apr 2012
4269 posts

Rita Benson Leblanc

Is she suitable to own this team? Jeff Duncan thinks NO LINK


VOR
New Orleans Pelicans Fan
Lap of Luxury
Member since Apr 2009
45310 posts

re: Rita Benson Leblanc
quote:

Is she suitable to own this team? Jeff Duncan thinks NO


Actually, he didn't really say that, holmes.


Hazelnut
LA-Lafayette Fan
The Flattz
Member since May 2011
12381 posts

re: Rita Benson Leblanc
saw that on Saints Talk. Not good at all.


Souljah
Southern Cal Fan
Audubon Park VIA Kingston,Jamaica
Member since Apr 2012
4269 posts

re: Rita Benson Leblanc
He definitely was hinting at it


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RonFNSwanson
New Orleans Pelicans Fan
University of LSU
Member since Mar 2012
16142 posts

re: Rita Benson Leblanc
quote:

Actually, he didn't really say that, mon.


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VOR
New Orleans Pelicans Fan
Lap of Luxury
Member since Apr 2009
45310 posts

re: Rita Benson Leblanc
quote:

saw that on Saints Talk. Not good at all.


I don't know that it's really that big of a deal. There have been a lot of assumptions regarding the details of Benson's succession that were not necessarily the case or certainly not written in stone.


Fun Bunch
New Orleans Pelicans Fan
New Orleans
Member since May 2008
32665 posts

re: Rita Benson Leblanc
Those who actually know things have been saying for a long time that Rita was not inheriting the team. It's going to a trust.


drake20
New Orleans Saints Fan
Baton Rouge
Member since Oct 2005
11031 posts
Online

re: Rita Benson Leblanc
Tom will live forever


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VOR
New Orleans Pelicans Fan
Lap of Luxury
Member since Apr 2009
45310 posts

re: Rita Benson Leblanc
quote:

Those who actually know things have been saying for a long time that Rita was not inheriting the team. It's going to a trust.


Yup. That's the likelihood.


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Hazelnut
LA-Lafayette Fan
The Flattz
Member since May 2011
12381 posts

re: Rita Benson Leblanc
quote:

Those who actually know things have been saying for a long time that Rita was not inheriting the team. It's going to a trust.


Probably a really stupid question but how does a trust work?


Jester
LSU Fan
Baton Rouge
Member since Feb 2006
17459 posts

re: Rita Benson Leblanc
I trust my mom. I don't trust any politicians. That covers it...








I would think something like the way the Green Bay Packers are run.
This post was edited on 4/22 at 5:58 pm


brmark70816
LSU Fan
Baton Rouge, La
Member since Feb 2011
2420 posts

re: Rita Benson Leblanc
Given all of his assets, a creation of a trust to control his sports teams would seem to be a tax dodge (which is why it'll happen). He should have been giving out portions of his teams and fortune for years, at a reasonable rate to avoid tax penalties. Maybe if all his heirs were underage, but even most of his grandchildren are over age of consent. So, the team(s) will be moved when he passes.

Estate taxes on the Saints alone will be over 300 million..


Souljah
Southern Cal Fan
Audubon Park VIA Kingston,Jamaica
Member since Apr 2012
4269 posts

re: Rita Benson Leblanc
quote:

Given all of his assets, a creation of a trust to control his sports teams would seem to be a tax dodge (which is why it'll happen). He should have been giving out portions of his teams and fortune for years, at a reasonable rate to avoid tax penalties. Maybe if all his heirs were underage, but even most of his grandchildren are over age of consent. So, the team(s) will be moved when he passes.


Moved as in relocoated?

Don't think so , brah


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JayJay2
West Virginia Fan
cane sweeeeeeet tea, Luzianne
Member since Jul 2010
11109 posts

re: Rita Benson Leblanc
quote:

So, the team(s) will be moved when he passes.


sure thing buddy


brmark70816
LSU Fan
Baton Rouge, La
Member since Feb 2011
2420 posts

re: Rita Benson Leblanc
I just meant they will have to be sold off. If you inherit a team worth 900+ million, you have to pay the estate taxes on it. Even with a trust, there will be a hefty bill. That's why most families pass it down over time, spread it out. Given his advanced age, I don't think Benson can pass it over without consequences.

Tax law isn't my area though.. I just know alot of teams have had problems with it..


JayJay2
West Virginia Fan
cane sweeeeeeet tea, Luzianne
Member since Jul 2010
11109 posts

re: Rita Benson Leblanc
ahh, I see. gotcha


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VOR
New Orleans Pelicans Fan
Lap of Luxury
Member since Apr 2009
45310 posts

re: Rita Benson Leblanc
quote:

I just meant they will have to be sold off. If you inherit a team worth 900+ million, you have to pay the estate taxes on it. Even with a trust, there will be a hefty bill. That's why most families pass it down over time, spread it out. Given his advanced age, I don't think Benson can pass it over without consequences.

Tax law isn't my area though.. I just know alot of teams have had problems with it..





I'm fairly certain they've got it handled. There are variations on a simple trust.


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LakeViewLSU
New Orleans Saints Fan
Baton Rouge
Member since Jun 2009
9061 posts

re: Rita Benson Leblanc
His wife should be able to inherit the non forced ( children ) portion without any taxes if she legally co owns it now. I am guessing this may be the case.


VOR
New Orleans Pelicans Fan
Lap of Luxury
Member since Apr 2009
45310 posts

re: Rita Benson Leblanc
quote:

if she legally co owns it now. I am guessing this may be the case.



If there's not prenup, she would be entitled to 1/2 of the gain on his property since marriage. It's not so simple.


Souljah
Southern Cal Fan
Audubon Park VIA Kingston,Jamaica
Member since Apr 2012
4269 posts

re: Rita Benson Leblanc
quote:

His wife should be able to inherit the non forced ( children ) portion without any taxes if she legally co owns it now. I am guessing this may be the case.


Tommy better have done a pre-nup


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