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edbermac
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Tue Nov-15-11 09:27 PM Original message |
Joe Paterno Turned Home Over last July to Wife for $1 |
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maddezmom
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Tue Nov-15-11 09:29 PM Response to Original message |
1. this is very common for people with trusts, it's a way to divide assets |
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godai
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Tue Nov-15-11 09:41 PM Response to Reply #1 |
3. According to the article, this is unusual. n/t |
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ProgressiveProfessor
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Tue Nov-15-11 11:27 PM Response to Reply #3 |
6. Per one lawyer consulted, not others who were also cited |
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godai
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Wed Nov-16-11 07:46 AM Response to Reply #6 |
12. House would go to spouse without any transfer. |
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ProgressiveProfessor
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Wed Nov-16-11 09:25 AM Response to Reply #12 |
16. That which works for estate planning also works for asset protection |
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hifiguy
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Wed Nov-16-11 10:23 AM Response to Reply #16 |
19. Correct |
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godai
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Wed Nov-16-11 11:08 AM Response to Reply #19 |
21. What happens if his wife dies first? n/t |
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TBF
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Thu Nov-17-11 06:11 PM Response to Reply #21 |
24. The trust will usually spell that out. |
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rurallib
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Tue Nov-15-11 10:47 PM Response to Reply #1 |
4. timing is quite interesting. |
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ProgressiveProfessor
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Tue Nov-15-11 11:29 PM Response to Reply #4 |
9. From the article: |
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Gormy Cuss
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Wed Nov-16-11 11:17 AM Response to Reply #1 |
22. Exactly, especially with people who are as wealthy as the Paternos. |
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Spazito
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Tue Nov-15-11 09:33 PM Response to Original message |
2. The timing is....interesting.... |
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ProgressiveProfessor
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Tue Nov-15-11 11:27 PM Response to Reply #2 |
7. It won't take much to do that. |
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FarCenter
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Tue Nov-15-11 11:21 PM Response to Original message |
5. $58K in '69 in State College? Must be quite a nice house! |
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alcibiades_mystery
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Wed Nov-16-11 07:56 AM Response to Reply #5 |
14. It's a modest ranch house |
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deaniac21
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Wed Nov-16-11 09:56 AM Response to Reply #14 |
17. Fair market value $594,484.40 |
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alcibiades_mystery
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Wed Nov-16-11 10:15 AM Response to Reply #17 |
18. Right |
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deaniac21
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Thu Nov-17-11 06:06 PM Response to Reply #18 |
23. That is what the New York Times reported in the article. |
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Ruby the Liberal
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Wed Nov-16-11 11:00 AM Response to Reply #17 |
20. Whoa. Thats what $600k gets next to campus? |
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nessa
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Tue Nov-15-11 11:28 PM Response to Original message |
8. If the house was jointly held before, it's not likely it could be ... |
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jberryhill
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Wed Nov-16-11 12:32 AM Response to Reply #8 |
11. Plus the headline is misleading |
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rufus dog
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Tue Nov-15-11 11:32 PM Response to Original message |
10. The normal way to do it would be to place it in a Joint trust |
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Kingofalldems
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Wed Nov-16-11 07:51 AM Response to Original message |
13. Joe Paterno and Sandusky are both republicans |
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Bunny
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Wed Nov-16-11 08:01 AM Response to Reply #13 |
15. So is my mother. |
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