Skip to comments.Tipper & Al cover big assets
Posted on 06/27/2010 6:54:26 AM PDT by maggief
Buying an $8.8 million California mansion months before announcing their divorce wasn't the only puzzling real-estate transaction for the Gores.
A month after snagging the Montecito estate in October 2009, Al and Tipper Gore transferred nine properties in Carthage, Tenn., from their own names into a limited liability company.
(Excerpt) Read more at nypost.com ...
The article cries wolf.
They knew they would be separating and probably divorcing. Their tax attorneys explained how to minimize the tax consequence of the divorce. There is nothing here at all.
BTW, you too can transfer your house to an LLC.
Hadn’t thought of that; but, you may well be right. He could have had a “heads-up” that the masseuse was coming after him-makes sense. I hope the situation deteriorates for him-I wouldn’t say that normally; but, we’re talking Algore here.
I wonder if Gore, upon setting up the limited partnership or the LLC, if Al is the General Partner, as well as a limited partner. If Tipper has assummed only the limited partnership position, she has left Al with 100$ control of the entities while Tipper retains her partnership interest, she will have no say as to how or when assets are dispersed. Now Al, if he is the general partner, while receiveing management payment, this is an expense of the partnership, but poor Tipper will only receive distribution when the general partner decides to make a dispersement. Or if an asset is sold, the money goes into the partnership account, but does not have to be dispersed. This way Al will retain 100% ccntrol and Tipper will have no say as to how or when her “interest” in the the LLP or LLC will be given to her. She is simply at the wim of Mr.Gore, IF they set it up cutting Tipper out of the position of being one of the general parteners.
........ just wait til Tipper gets her carbon emissions bill .
TAX CHEATING...PERIOD!! If this was a REPUBLICAN doing this, the left would be screaming...TAX CHEAT!!
I agree with your point. They are sheltering their money from the coming global warming crisis!
Al and Tipper Gore transferred nine properties unexpected tax dodge to ensue.
Ohh WOE is me... whys everybody always pickin on me???
If you stand on principle rather than take sides, you uphold that principle regardless of who is involved. All you are doing, clearly without understanding of the issue, is defamation. This is neither principled, nor conservative, nor moral.
Looks like a fraudulent transfer in an attempt to prptect assets in a lawsuit that is sure to be filed. Could be a problem if the woman does not sue before a time limitation period for asset transfers expires.
That kiss - which was disturbing - was meant to convey that he was NOT Bill Clinton. Bad as it was, can anyone imagine Bill and Hillary doing that ? For one instant?
Hadnt thought of that; but, you may well be right. He could have had a heads-up that the masseuse was coming after him-makes sense. I hope the situation deteriorates for him-I wouldnt say that normally; but, were talking Algore here.”
Since the incident with the lady who was just trying to do her job occurred long before the assets were transferred....
Some courts might negate that transfer- seeing that Gore was prepping for holding back money/assets that a jury might award the lady.
IIRC, asset transferred within X years preceding a judgment would be subject a court’s putting them back into the ownership of the original owner.
The timing is suspect, almost an admission of guilt.
tax avoidance is not tax cheating