Skip to comments.How will Paris Hilton survive? (Inheritance Cut Down)
Posted on 12/27/2007 10:29:43 AM PST by Anti-Bubba182
Time to tighten the belt, Paris.
Hotel magnate Barron Hilton announced yesterday that he's leaving 97% of his wealth to charity, dramatically cutting the fortune his children and grandkids will get.
That means granddaughter Paris Hilton, who once stood to inherit $100 million or more by some accounts, could end up with a measly $5 million or so.
"The whole family will be devastated, particularly [Paris' mom] Kathy," a pal of the clan told the Daily News last night.
"Some of them could be likely to contest the will - it'll be in the courts longer than Anna Nicole Smith versus J. Howard Marshall."
Barron Hilton is worth an estimated $2.3 billion, including the $1.2 billion he made from the sale of the Hilton Hotels and Harrah's casino chains......"
(Excerpt) Read more at nydailynews.com ...
How can you contest the will of a man who is still alive?
Interesting history here. Barron Hilton actually contested the will of his Father who was going to put all his money into a Foundation. Barron Hilton prevailed and got control of the hotel chain.
I really don’t care.
How will Paris Hilton survive?
Sex worker, same as now.
the story is mis leading.The collective Hilton’s have millions....NOW...minus anything Barron holds ...NOW....
In fact,so many millions a duplicate Barron like run could happen .
Make another "stolen" video.
Sell it on e-bay.
“That means granddaughter Paris Hilton, who once stood to inherit $100 million or more by some accounts, could end up with a measly $5 million or so.”
$5 million wouldn’t cover her bar tab. I’m sure the old man’s lawyer is smart enough to insert a clause that provides that anyone who contests the will unsuccessfully gets nothing.
Barron Hilton is worth an estimated $2.3 billion...
0.97 X 2.3 = 2.231
The really important question here is which far-left anti-human gang of eco-freak wingnuts is about to get handed $2.231B to spread their mayhem and suicidal nihilism?
The foundation funds clean water in Africa, education for blind children and housing for the mentally ill.
Here's a real efficient way to get "clean" water in Africa.
BTW- Paris is a good bet for your 2008 Dead Pool selections.
This had been posted earlier:
This one of the best known super rich scams. Its called estate planning. A former boss of mine did it. It is designed to avoid paying huge inheritance taxes on transfer of ownership of the corporation.
First you set up a family foundation and name your kids as perpetual trustees with salaries and expense accounts.
Second you donate a billion dollars getting a billion dollar tax deduction.
Third, as a condition of the donation, the foundation has to purchase life insurance that will pay out in excess of what your kids would have gotten after taxes if you had simply left the company to them in the first place.
The benefits are that you get to look like a great guy. You dont have to pay anymore taxes the rest of your life. Your kids get more than they would have anyway because life insurance isnt taxed, and they have the salary and expense accounts for the rest of their lives.
4 posted on 12/26/2007 6:07:46 PM EST by Soliton
I think that anyone who leaves his money to a bunch of charity vultures instead of his own family is nuts. THis ain’t the Fifties — most people I know on “charity” (read: government handouts of money extorted from taxpayers) don’t deserve the time of day. As bad as she may be, at least Paris is in the bloodline.
Barron fought his father’s will and wind up getting half the money that Conrad wanted to go to charity.
I don’t know what would be the basis of contesting this will, but as you observed Barron Hilton did it. He may have a good case that the heirs are bums, but that may not hold once it gets to court.
Many wills have clauses which state that anyone who contests the will automatically forfeits their original bequest..