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How will Paris Hilton survive? (Inheritance Cut Down)
NY Daily News ^ | December 27th 2007 | TRACY CONNOR

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 ...


TOPICS: News/Current Events
KEYWORDS: parishilton; tabloidtrash; will
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I hope the will is upheld and the heirs get just what Barron Hilton intended.
1 posted on 12/27/2007 10:29:45 AM PST by Anti-Bubba182
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To: Anti-Bubba182

How can you contest the will of a man who is still alive?


2 posted on 12/27/2007 10:31:12 AM PST by trumandogz (Hunter Thompson 2008)
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Comment #3 Removed by Moderator

To: Anti-Bubba182

MOMMIE!

4 posted on 12/27/2007 10:32:07 AM PST by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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Comment #5 Removed by Moderator

To: Anti-Bubba182

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.


6 posted on 12/27/2007 10:33:51 AM PST by Captain Peter Blood
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To: Anti-Bubba182

I really don’t care.


7 posted on 12/27/2007 10:33:52 AM PST by Rick_Michael (The Anti-Federalists failed....so will the Anti-Frederalists)
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To: Anti-Bubba182
Perhaps she could go work for the TSA as a "security" screener. Heck, with her intelligence, relative to that of the majority of TSA screeners, she could end up running the who sh'bang in six months!

In a year, she could be Homeland Security Secy.
8 posted on 12/27/2007 10:34:21 AM PST by LIConFem (Thompson. Lifetime ACU Rating: 86 -- Hunter Lifetime ACU Rating: 92 (any combo will do, fellas))
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To: Anti-Bubba182

How will Paris Hilton survive?

Sex worker, same as now.


9 posted on 12/27/2007 10:35:09 AM PST by donna (Pornography can reach out and snatch a kid out of any house today. - Ted Bundy)
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To: trumandogz

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 .


10 posted on 12/27/2007 10:35:43 AM PST by advertising guy (If computer skills namedo us, I'd be back-space delete.)
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To: donna
Ditto.

Make another "stolen" video.

Sell it on e-bay.

11 posted on 12/27/2007 10:38:17 AM PST by jaz.357 (O wad some Power the giftie gie us To see oursels as ithers see us!)
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To: Anti-Bubba182

“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.


12 posted on 12/27/2007 10:38:40 AM PST by Spok (Unfortunately, we'll always have Paris.)
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To: Anti-Bubba182
Hotel magnate Barron Hilton announced yesterday that he's leaving 97% of his wealth to charity...

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.

13 posted on 12/27/2007 10:39:35 AM PST by KayEyeDoubleDee (const Tag &referenceToConstTag)
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To: advertising guy
I am sure Paris will never have to work the grave yard shift at the Waffle House on the outskirts of Reno but this has to be a hit to her dreams of being super rich.

BTW- Paris is a good bet for your 2008 Dead Pool selections.

14 posted on 12/27/2007 10:39:50 AM PST by trumandogz (Hunter Thompson 2008)
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To: Anti-Bubba182; trumandogz; Soliton

This had been posted earlier:

To: Perdogg

This one of the best known super rich scams. It’s 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 don’t have to pay anymore taxes the rest of your life. Your kids get more than they would have anyway because life insurance isn’t taxed, and they have the salary and expense accounts for the rest of their lives.

Sweet huh?

4 posted on 12/26/2007 6:07:46 PM EST by Soliton


15 posted on 12/27/2007 10:40:48 AM PST by CarrotAndStick (The articles posted by me needn't necessarily reflect my opinion.)
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To: Anti-Bubba182

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.


16 posted on 12/27/2007 10:43:52 AM PST by lapster
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To: Anti-Bubba182

Barron fought his father’s will and wind up getting half the money that Conrad wanted to go to charity.


17 posted on 12/27/2007 10:44:02 AM PST by misterrob (15 down, 4 more til the Pats win the SB again.)
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To: Captain Peter Blood

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.


18 posted on 12/27/2007 10:44:21 AM PST by Anti-Bubba182
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To: trumandogz

Many wills have clauses which state that anyone who contests the will automatically forfeits their original bequest..


19 posted on 12/27/2007 10:44:27 AM PST by ken5050
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To: trumandogz
Could you believe that this bunch of hypocrits are going to contest money going to charity? What a bunch of slobs. I guess Niki will have sell more handbags and Paris will have to go to more parties (which she gets paid for attending).
20 posted on 12/27/2007 10:45:26 AM PST by LottieDah (Democrats and liberals, they never fail to disappoint.)
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To: Anti-Bubba182

Only 5 million? Supporting her posse costs more than that a year!


21 posted on 12/27/2007 10:46:33 AM PST by AU72
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To: CarrotAndStick

thats probably exactly what hes doing. good response.


22 posted on 12/27/2007 10:49:05 AM PST by robomatik
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To: Anti-Bubba182

HA HA...in the media age....grandparents get to SEE for themselves the outrageous behavior of their progeny.....I’m tempted to send a copy of my niece’s FACEBOOK page to her grandparents....my in laws.....they would not be very happy to hear she is an “atheist” and “very liberal.” Not to mention she’s a spoiled brat who lives in a 2 bedroom condo alone, while going to community college away from her home town, and does NOT WORK.


23 posted on 12/27/2007 10:49:31 AM PST by goodnesswins (Being Challenged Builds Character! Being Coddled Destroys Character!)
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To: Anti-Bubba182
The man should just give it away now, enjoy the feeling of the magnanimous gift and ensure that goes where he wants. That way it’s not left up to the lawyers to usurp it by contesting the will.
24 posted on 12/27/2007 10:49:46 AM PST by Sax
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To: LottieDah

Actually she a fortune doing that. The question is would she
get more from an inheritance? Baron Hilton has basically disinherited everybody with the will. Maybe Paris was smart to sell herself.


25 posted on 12/27/2007 10:50:02 AM PST by Anti-Bubba182
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To: goodnesswins

Sounds like a plan!


26 posted on 12/27/2007 10:50:59 AM PST by Anti-Bubba182
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To: AU72

She’ll end up like step-mom Zsa Zsa making cameos in Zucker Brothers movies.


27 posted on 12/27/2007 10:51:06 AM PST by massgopguy (I owe everything to George Bailey)
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Comment #28 Removed by Moderator

To: Anti-Bubba182
Well, ‘Ol Barron was cut out of his Daddy’s will but he, of course, sued and after 10 years it was settled out of court.

Maybe the apple didn’t fall that far from the tree.

29 posted on 12/27/2007 10:51:49 AM PST by PeteB570 (Guns, what real men want for Christmas)
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To: Anti-Bubba182

Maybe Paris went too far in her personal life and the grandad realized that the money wasn’t doing anyone any favors.


30 posted on 12/27/2007 10:51:55 AM PST by rodeo-mamma
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To: Anti-Bubba182

He should just spend it all before he goes. You can’t contest what ain’t there.


31 posted on 12/27/2007 10:52:37 AM PST by Antoninus (Republicans who support Rudy owe Bill Clinton an apology.)
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To: Anti-Bubba182

LMAO... this is called Asset planning, Otherwise the Death Tax would get a Majority of the Wealth. Nothing to see here folks, nothing has changed.


32 posted on 12/27/2007 10:53:06 AM PST by Danae (Anail nathrach, orth' bhais's bethad, do chel denmha (Smoke clears and Fred Thompson is President))
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To: Anti-Bubba182

LMAO... this is called Asset planning, Otherwise the Death Tax would get a Majority of the Wealth. Nothing to see here folks, nothing has changed.


33 posted on 12/27/2007 10:53:12 AM PST by Danae (Anail nathrach, orth' bhais's bethad, do chel denmha (Smoke clears and Fred Thompson is President))
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To: rodeo-mamma
But, he seems to have cut everybody in this will. Maybe he hates them all and wants to buy a good family reputation through a foundation.
34 posted on 12/27/2007 10:55:39 AM PST by Anti-Bubba182
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To: Anti-Bubba182

If those are his true wishes he should start getting rid of it while he’s alive.


35 posted on 12/27/2007 10:57:41 AM PST by AD from SpringBay (We have the government we allow and deserve.)
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To: Anti-Bubba182
I bet the other heirs that were downsized because of Paris take her off their A-lists for their dinner parties.

Leni

36 posted on 12/27/2007 10:58:29 AM PST by MinuteGal (Three Cheers for the FRed, White and Blue !!!)
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To: trumandogz

Well, you start with the fact he is 80 years old and wander about from there.


37 posted on 12/27/2007 11:00:04 AM PST by Old Professer (The critic writes with rapier pen, dips it twice, and writes again.)
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To: Danae

That was my first thought.

The family will be in charge of the various foundations and charities.

Imagine a relative establishing a foundation for educational posting. The purpose of the charity is to fund posting on the internet. (IOW grandpa leaves money so junior can post on FR with all living expesnse paid)


38 posted on 12/27/2007 11:00:32 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Anti-Bubba182

She’s been earning around $6 million a year on her own for the last several years. Assuming she’s not too stupid (big assumption, I know), she should be just fine.


39 posted on 12/27/2007 11:00:39 AM PST by Wolfie
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To: Anti-Bubba182
How will Paris Hilton survive?

Preacher. She knows the Bible so well.

40 posted on 12/27/2007 11:00:59 AM PST by onedoug
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To: Anti-Bubba182

Remember, Paris continues to get a cut of each video of her having sex with her boyfriend. SO she’ll be fine for a while. But as to her lost inheritance becuase of her behavior: Hahahaha!


41 posted on 12/27/2007 11:04:30 AM PST by theDentist (Qwerty ergo typo : I type, therefore I misspelll.)
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To: Anti-Bubba182

Reminds me of Dylan’s “Like a Rolling Stone”


42 posted on 12/27/2007 11:05:11 AM PST by lmailbvmbipfwedu
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To: Anti-Bubba182

Note that Beyonce Knowles is about the same age as Paris. The difference between the two is enormous.


43 posted on 12/27/2007 11:05:31 AM PST by Savage Beast ("History is not just cruel. It is witty." ~Charles Krauthammer)
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To: trumandogz

Maybe they will try to have him declared incompetent to make such a decision?


44 posted on 12/27/2007 11:06:05 AM PST by ravingnutter
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To: Anti-Bubba182

She’ll burn through $5 Mil in a few days!


45 posted on 12/27/2007 11:07:26 AM PST by Red in Blue PA (Truth : Liberals :: Kryptonite : Superman)
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To: trumandogz

LOL....exactly what I was thinking.


46 posted on 12/27/2007 11:08:08 AM PST by Red in Blue PA (Truth : Liberals :: Kryptonite : Superman)
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To: Anti-Bubba182

I’m a supporter of charitable giving, but I cannot ever see a circumstance where I would give all my holdings to charity vs family.

I’ve been somewhat estranged from part of my family, but I still love them.

What a slap in the face it would be, to completely ignore them. I couldn’t, and wouldn’t do it.

Evidently the Baron didn’t like it when Pappy tried the same thing. You’d think he would have learned from the experience.


47 posted on 12/27/2007 11:09:30 AM PST by DoughtyOne (< fence >< sound immigration policies >< /weasles >< /RINOs >< /Reagan wannabees that are liberal >)
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To: KayEyeDoubleDee

So giving the money to Paris to blow (pun intended) would be better than giving it to charities?

Is this really what you are saying?


48 posted on 12/27/2007 11:09:46 AM PST by Red in Blue PA (Truth : Liberals :: Kryptonite : Superman)
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To: LottieDah

And amazingly some here will pity her!


49 posted on 12/27/2007 11:11:50 AM PST by Red in Blue PA (Truth : Liberals :: Kryptonite : Superman)
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To: CarrotAndStick

which is why Warren Buffet opposes the end of the estate tax. He sells the insurance.


50 posted on 12/27/2007 11:12:06 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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