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Started By
Message
Rita Benson Leblanc
Posted on 4/22/12 at 3:26 pm
Posted on 4/22/12 at 3:26 pm
Is she suitable to own this team? Jeff Duncan thinks NO LINK
2
Posted on 4/22/12 at 3:28 pm to Souljah
quote:
Is she suitable to own this team? Jeff Duncan thinks NO
Actually, he didn't really say that, holmes.
Posted on 4/22/12 at 3:29 pm to Souljah
saw that on Saints Talk. Not good at all.
Posted on 4/22/12 at 3:31 pm to VOR
He definitely was hinting at it
Posted on 4/22/12 at 5:01 pm to VOR
quote:
Actually, he didn't really say that, mon.
Posted on 4/22/12 at 5:05 pm to Hazelnut
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.
Posted on 4/22/12 at 5:10 pm to VOR
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.
Posted on 4/22/12 at 5:10 pm to Fun Bunch
Tom will live forever
Posted on 4/22/12 at 5:13 pm to Fun Bunch
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.
Posted on 4/22/12 at 5:49 pm to Fun Bunch
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?
Posted on 4/22/12 at 5:56 pm to Hazelnut
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.
I would think something like the way the Green Bay Packers are run.
This post was edited on 4/22/12 at 5:58 pm
Posted on 4/22/12 at 6:13 pm to Jester
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..
Estate taxes on the Saints alone will be over 300 million..
Posted on 4/22/12 at 6:17 pm to brmark70816
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
Posted on 4/22/12 at 6:20 pm to brmark70816
quote:
So, the team(s) will be moved when he passes.
sure thing buddy
Posted on 4/22/12 at 7:11 pm to JayJay2
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..
Tax law isn't my area though.. I just know alot of teams have had problems with it..
Posted on 4/22/12 at 7:47 pm to brmark70816
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.
Posted on 4/22/12 at 8:18 pm to brmark70816
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.
Posted on 4/22/12 at 8:36 pm to LakeViewLSU
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.
Posted on 4/22/12 at 8:39 pm to LakeViewLSU
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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