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Keyword: estate

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  • Items from Van Cliburn’s estate to be auctioned through Christie’s

    02/21/2014 12:39:05 PM PST · by afraidfortherepublic · 19 replies
    The Star Telegram ^ | 2-21-14 | Marilyn Bailey
    Special to the Star-Telegram One year after his death, hundreds of items from the estate of Van Cliburn are going on sale at Christie’s auction house in New York. The pianist, who died in February 2013, filled his Westover Hills home with items encountered during his world travels — fine art, furnishings, tableware — and selected with a veteran collector’s eye. Two years ago, Cliburn parted with some of his most valuable treasures at a Christie’s auction of what was billed as “The Van Cliburn Collection.” That sale earned almost $4.4 million, beating a presale estimate of $3 million. The...
  • More Americans Are Writing Their Pets Into Their Wills

    01/12/2014 8:10:36 AM PST · by Innovative · 36 replies
    Wall Street Journal ^ | Jan 12, 2014 | Anne Tergesen
    The number of Americans owning pets is at a record high, and more people are making provisions in their wills to provide for these animals after they're gone. But to ensure your pet is cared for as you intend, it's important to set up a pet trust—an arrangement that 46 states permit. "Pet trusts aren't just for the wealthy," says Frances Carlisle, a trust and estates attorney in New York. For most pet owners, she adds, the goal "is to make sure a plan exists for the care of the animal." Pet trusts can take effect either after you die...
  • Medicaid Estate Recovery (Free Obamacare ain't free!)

    This policy brief was prepared under contract #HHS-100-03-0022 between the U.S. Department of Health and Human Services (HHS), Office of Disability, Aging and Long-Term Care Policy (DALTCP) and Thomson/MEDSTAT. For additional information about the study, you may visit the DALTCP home page at http://aspe.hhs.gov/_/office_specific/daltcp.cfm or contact the ASPE Project Officer, Hunter McKay, at HHS/ASPE/DALTCP, Room 424E, H.H. Humphrey Building, 200 Independence Avenue, SW, Washington, DC 20201. His e-mail address is: Hunter.McKay@hhs.gov.
  • Repeal of estate tax will reduce revenue an estimated $300 million over five years (NC)

    08/12/2013 4:52:44 PM PDT · by Libloather · 8 replies
    Journal Now ^ | 8/12/13 | Richard Craver
    For supporters of the repeal of North Carolina’s estate tax, the passage serves as a big neon "come on home" message to ultra-wealthy individuals who have kept a primary residence in another state to avoid the tax. "A tax that affects somewhere between a dozen and 100 families each year in a state with 9 million-plus people is fundamentally unfair," said Dallas Woodhouse, the director of the N.C. chapter of the conservative advocacy group Americans For Prosperity. For opponents, the repeal – retroactive to Jan. 1 – serves as a prime example of conservative legislators favoring the wealthy few over...
  • They Are Going To Make It Nearly Impossible To Pass On A Farm Or A Business To Your Children

    11/21/2012 9:39:04 AM PST · by blam · 45 replies
    TEC ^ | 11-21-2012 | Michael Snyder
    They Are Going To Make It Nearly Impossible To Pass On A Farm Or A Business To Your Children By Michael Snyder on November 20th, 2012 If you have a farm or a small business, would you like to pass it on to your children when you die? Well, unless Congress does something, it is going to become much, much harder to do that starting next year. Right now, there is a 5 million dollar estate tax exemption and anything above that is taxed at 35 percent. But on January 1st, the exemption will go down to 1 million dollars...
  • Ranchers, farmers brace for 'death tax' impact

    11/17/2012 3:16:39 PM PST · by george76 · 21 replies
    FoxNews ^ | November 16, 2012 | William La Jeunesse
    the estate tax -- also known as the "death tax."... set to soar at the beginning of 2013 ... The estate tax dates back to 1916 when then-President Woodrow Wilson imposed the tax of 1 to 10 percent on the wealthy because World War I reduced federal government revenues. Under Franklin Delano Roosevelt, the tax rose to 77 percent, as Congress tried to prevent wealth from becoming concentrated among a few powerful and super-rich families. Ironically, many nations historically more concerned with class and wealth -- namely Russia and China -- have since abandoned their estate taxes.
  • Celebrate “Empty Chair Day” in Barack & Michelle Obama’s $35 Million Kailua, Hawaii Mansion

    09/20/2012 11:56:38 AM PDT · by Red Steel · 41 replies
    HillBuzz ^ | September 3, 2012 | Kevin DuJan
    (Being purchased for them by Penny Pritzker and wealthy Chicagoans) [ Michelle Obama's mother, Marian Robinson, has been bragging about getting to live in Hawaii next, in a $35 million beachfront mansion after leaving the White House in January 2013.  "It was fun while it lasted", Miss Marion is quoted by Chicagoans as saying, "but wait until you see the place they're buying for Michelle and Barack!" ] Part 1 of this report — HEREPart 2 of this report — HERE***************************Today has been declared “National Empty Chair Day”, in honor of Clint Eastwood’s speech on the closing night of the Republican...
  • Value: $0, Taxes: $40 Million

    07/23/2012 5:15:30 AM PDT · by afraidfortherepublic · 20 replies
    Commentary Magazine ^ | 7-23-12 | John Steele Gordon
    This week’s winner of the you-can’t-make-this-stuff-up contest is undoubtedly a front-page story in this morning’s New York Times. When New York art dealer Ileana Sonnabend died in 2007, she left her children a fabulous collection of modern art valued at $1 billion. Her children have already paid $471 million in estate taxes on the collection, being forced to sell off most of it to meet the bill. (This is a beautiful example, by the way, of why estate taxes should be abolished and replaced with a capital gains tax on inherited assets—the collection, an artistic whole in itself, had to...
  • Guns and Stuff(estates)

    06/01/2012 4:56:14 AM PDT · by marktwain · 26 replies
    clarecountyreview.com ^ | 1 June, 2012 | NA
    When people die they leave behind an estate. An “estate” is what you owned at the time of your death. It can be real property, land and the buildings that sit on land, or it can be personal property. That’s “stuff.” After you’ve paid off all the bills and expenses, what’s left is “residue.” That’s what gets divided up amongst the heirs. If there’s going to be a dispute it usually comes from distributing that “stuff.” It’s been my experience that if heirs are going to argue it’s over the small stuff. In particular, women argue over jewelry and antiques...
  • Bank of America ups CA foreclosures by nearly 200 percent

    09/21/2011 9:29:53 PM PDT · by smokingfrog · 12 replies
    SCPR ^ | 21 Sept 2011 | Patt Morrison
    Bank of America increased foreclosures by nearly 200 percent in California between July and August. John Karevoll, an analyst with DataQuick told Patt Morrison that the bank is capitalizing on favorable laws in California and other states where a court order isn’t needed to repossess a home. “This is the rip-the-band-aid-off policy here," he said. "It’s basically just to go out there and plough through it and get rid of it.” Dan Frahm, the senior vice president of Bank of America Home Loans, says the recent upswing in foreclosures is due to a massive backlog. “Those foreclosures that have been...
  • U.S. New Home Sales Show Unexpected Drop In June

    07/26/2011 8:58:01 AM PDT · by markomalley · 29 replies
    RTT News ^ | 7/26/11
    Sales of new homes in the U.S. saw a modest decrease in the month of June, according to figures released Tuesday by the Commerce Department, with the drop in sales coming as a surprise to economists. New single-family home sales came in at a seasonally adjusted annual rate of 312,000 in June, a 1 percent drop from revised figures that showed the May rate at 315,000. Most economists had predicted a slight rebound to an annual rate of 321,000 new home sales. Additionally, the May figures were revised downward from initial reports that showed an annual rate of 319,000.
  • New single-family home sales fall 1% in June

    07/26/2011 9:30:43 AM PDT · by Free Vulcan · 6 replies
    Marketwatch ^ | 7.26.11 | Jeffry Bartash
    WASHINGTON (MarketWatch) — Sales of new single-family homes fell 1.0% in June as purchases in the Northeast dropped to the lowest level since the government began tracking the data in 1973. Single-family sales fell last month to an annual rate of 312,000, the Commerce Department said Tuesday. Economists surveyed by MarketWatch had expected sales to climb to an annual rate of 325,000 on a seasonally adjusted basis. Sales for May were revised slightly lower to an annual rate of 315,000. Sales of single-family homes sank 15.8% in the Northeast and 12.7% in the West. The Midwest saw sales climb 9.5%...
  • Capital Gains Rate Could Jump 119% Under Gang Of Six

    07/20/2011 4:15:35 PM PDT · by Slyscribe · 45 replies
    Investor's Business Daily ^ | 7/20/2011 | Jed Graham
    The key to the Senate Gang of Six deficit-cutting grand bargain is the combination of higher tax revenue with lower tax rates. The former makes Democrats swoon and Republicans are sweet on the latter. The first date was a hit, with a surprising number of senators declaring their everlasting love and President Obama giving it his blessing on Tuesday. But just how much do the two sides know about their partner?
  • Foreclosures might swamp Hawaii courts

    06/16/2011 6:10:31 PM PDT · by DeaconBenjamin · 6 replies · 1+ views
    Honolulu Star Advertiser ^ | 01:30 a.m. HST, Jun 15, 2011 | By Andrew Gomes
    One of the nation's biggest owners of home mortgages has made a move that could add to an already overburdened Hawaii court system's caseload. Fannie Mae, a publicly owned company created and overseen by the federal government, recently instructed companies that handle foreclosures for its loans to file all new Hawaii foreclosures in court. Fannie Mae also told the firms known as loan servicers to cancel any pending nonjudicial Hawaii foreclosures and restart them in court.Fannie Mae took the steps in response to Hawaii's new foreclosure law enacted last month. Critics are concerned Fannie Mae might be attempting to sidestep...
  • May housing starts rise 3.5% after rough April

    06/16/2011 7:10:23 AM PDT · by Free Vulcan · 5 replies
    Marketwatch ^ | 6.16.11 | Greg Robb
    WASHINGTON (MarketWatch) — Ground-breaking on new U.S. housing units recovered a bit in May after a sharp drop in April, but remained well below levels that would provide any boost to the economy. Starts rose 3.5% to a seasonally adjusted annual rate of 560,000, but remain 5.6% below March, the Commerce Department said. Economists surveyed by MarketWatch were expecting a smaller gain, with starts forecasted to rise to a 550,000 rate. See MarketWatch calendar with forecasts of major indicators.
  • “All three of these lines of research to point to the familiar sunspot cycle shutting down...”

    06/15/2011 9:27:51 PM PDT · by neverdem · 71 replies
    Watts Up With That? ^ | June 14, 2011 | Anthony Watts
    “All three of these lines of research to point to the familiar sunspot cycle shutting down for a while.” I’ve managed to get a copy of the official press release provided by the Southwest Research Institute Planetary Science Directorate to MSM journalists, for today’s stunning AAS announcement and it is reprinted in full here: WHAT’S DOWN WITH THE SUN? MAJOR DROP IN SOLAR ACTIVITY PREDICTED Latitude-time plots of jet streams under the Sun's surface show the surprising shutdown of the solar cycle mechanism. New jet streams typically form at about 50 degrees latitude (as in 1999 on this plot) and...
  • The Housing Depression Deepens

    06/15/2011 5:05:27 PM PDT · by Kaslin · 20 replies
    IBD Editorials ^ | June 15, 2011 | Staff
    Economy: The collapse of residential real estate prices just officially exceeded the scale of the Great Depression's housing crisis. Using mortgages as a welfare program turned out to be long-lasting poison. Home prices have fallen by 33%, according to Standard & Poor's Case-Shiller data, since the housing market began its long, hard collapse in 2006 — with a further decline expected in the months ahead. During the Depression, by comparison, prices fell 31%. In about a dozen U.S. cities, the prices of residences in March were at their lowest since the housing crisis began. Investment strategist Barry Ritholtz, while believing...
  • 10 reasons to be cheerful about the coming new Ice Age

    06/15/2011 12:00:11 PM PDT · by Signalman · 47 replies
    The Telegraph ^ | 6/15/2011 | James Delingpole
    It’s official: a new Ice Age is on its way. In what has been described as “the science story of the century”, heavyweight US solar physicists have announced that the sun is heading for a prolonged period of low activity. This makes global cooling a much more plausible prospect in the next few decades than global warming. Indeed, it might even usher in a lengthy period of climate grimness such as we saw during the Maunder Minimum (when Ice Fairs were held on the Thames) or the Dalton Minimum (which brought us such delights as the 1816 Year Without A...
  • Making us poor won’t save planet

    06/15/2011 12:24:44 PM PDT · by Clive · 11 replies
    Toronto Sun ^ | 2011-06-15 | (editorial page)
    On Tuesday, Ontario Environmental Commissioner Gord Miller essentially advocated hiking our hydro bills by 10%. Last month, he lobbied for road tolls. He favours time-of-use pricing for electricity, despite complaints from consumers across Ontario their hydro bills are skyrocketing under it, no matter how much they conserve. Miller’s also disappointed the provincial government recently announced it will delay entering into a regional cap-and-trade market with some provinces and U.S. states, which will raise the cost of goods and services. Listening to him, you’d think Ontarians are flush with cash and the only challenge for government is to figure out new...
  • Scientists predict rare 'hibernation' of sunspots

    06/14/2011 8:12:17 PM PDT · by goodnesswins · 58 replies
    Yahoo News ^ | 6/14/11 | Kerry Sheridan
    WASHINGTON (AFP) – For years, scientists have been predicting the Sun would by around 2012 move into solar maximum, a period of intense flares and sunspot activity, but lately a curious calm has suggested quite the opposite. According to three studies released in the United States on Tuesday, experts believe the familiar sunspot cycle may be shutting down and heading toward a pattern of inactivity unseen since the 17th century. The signs include a missing jet stream, fading spots, and slower activity near the poles, said experts from the National Solar Observatory and Air Force Research Laboratory. "This is highly...
  • Squatter Nation: 5 years with no mortgage payment

    06/10/2011 12:14:57 PM PDT · by DeaconBenjamin · 44 replies
    cnnmoney.com ^ | June 9, 2011: 9:45 AM ET | By Les Christie
    Charles and Jill Segal have not made a mortgage payment in nearly five years -- but they continue to live in their five-bedroom West Palm Beach, Fla. home. Lynn, from St. Petersburg, Fla., has been living without paying for three years. In Thousand Oaks, Calif., an actor has missed 30 payments, and still, he has not lost his home. They're not alone. Some 4.2 million mortgage borrowers are either seriously delinquent or have had their cases referred to lawyers to pursue foreclosure auctions, according to LPS Applied Analytics. Of those, two-thirds have made no payments at all for at least...
  • Foreclosure woes: For one homeowner, following bank's advice was bad news

    06/08/2011 8:01:42 PM PDT · by Jim 726 · 45 replies · 1+ views
    PANAMA CITY BEACH — Lindsay Hall took out a $200,000 loan in 2005 on her paid-off beach house with the understanding that her $600 monthly Social Security check would cover the mortgage payments. When her interest rate jumped more than a year ago, it raised her mortgage payments to $1,500. At that point, Hall started the fight to save her home. “I want to say I did my best to fight for the American dream,” said Hall, 70. Hall has negotiated with her loan servicer, IndyMac Mortgage Services, to modify her loan payments multiple times. Each time she negotiates payments...
  • The World's Number One Real Estate Agent Just Filed For Bankruptcy

    06/06/2011 10:06:38 AM PDT · by SeekAndFind · 62 replies
    Business Insider ^ | 06/06/2011 | Robert Johnson
    John McMonigle claims to be the world's number one real estate agent. With $2.5 billion in residential sales over the past six years, this 46-year-old realtor may well have been. And now he's declaring bankruptcy. According to the Orange County Register, McMonigle has amassed $50 million in debt, even after selling his luxurious Newport Beach condo, his car and personal effects. The Oklahoma native started small, arriving in California with only $73 in his pocket in 1989. But within four years he was grossing $100,000 a year. McMonigle's ascension through the ranks of top realtors reached dizzying heights during the...
  • On the ethics of mortgage loan default

    06/04/2011 3:20:27 PM PDT · by Chunga85 · 57 replies
    Amvona ^ | 6/3/2011 | Gregory M. Lemelson
    Is it ethical for the American homeowner whose mortgage has been securitized to default, even If they are not financially distressed? First, consider it is unlikely that marketable, fee simple, insurable title can be obtained as a result of fulfilling the obligations of the related promissory note. On the contrary the titles to some 60 million homes in America are badly clouded. Secondly, encouraging investment in an asset class that has been artificially inflated, then deliberately destroying the price of the asset, as part of a separate profit making scheme is unethical, and any agreement based on this type of...
  • Housing crash is getting worse: report

    05/08/2011 10:12:53 PM PDT · by george76 · 68 replies
    MarketWatch ^ | May 9, 2011 | Brett Arends
    If you thought the housing crisis was bad, think again. It’s worse. New data just out from Zillow, the real-estate information company, show house prices are falling at their fastest rate since the Lehman collapse. Average home prices are down 8% from a year ago, 3% over the quarter, and are falling at about 1% every month, according to Zillow. And the percentage of homeowners in negative-equity positions — with a home worth less than its mortgage — has rocketed to 28%, a new crisis high.
  • Real Estate Agent Shot To Death In Model Home

    04/09/2011 1:43:21 AM PDT · by hawkeye101 · 42 replies
    Real Estate Agent Shot To Death In Model Home Iowa Realty Cancels Des Moines Area Open Houses WEST DES MOINES, Iowa -- A real estate agent was shot to death Friday in a new townhome complex in West Des Moines. West Des Moines police have identified her as Ashley Okland, 27, of West Des Moines. Polk County Medical Examiner Dr. Gregory Schmunk confirmed to KCCI that he was called in to examine Okland at Methodist Medical Center at about 3:30 p.m. Friday. Schmunk said she probably died within an hour of that call. West Des Moines Lt. Jim Barrett said...
  • Sales of new U.S. homes tumble 16.9% to record low

    03/23/2011 7:25:12 AM PDT · by library user · 172 replies
    CBS Marketwatch ^ | March 23, 2011 | by Steve Goldstein
    ~ EXCERPT ~ WASHINGTON (MarketWatch) — Sales of new single-family homes collapsed in February, the Commerce Department reported Wednesday, as a combination of high unemployment, tumbling prices and a glut of cheaper alternatives brought activity to a near-standstill. New-home sales fell 16.9% to a seasonally adjusted annual rate of 250,000 in February, though January’s figures were revised higher to 301,000 from 284,000. Compared to February 2010, sales collapsed by 28%. Every region but the West saw record lows, and in the Northeast, sales dropped by 50% compared to year-earlier levels.
  • Estate Tax Reduction: A Great Day for Black Families (Black Caucus votes against it 38-3)

    12/21/2010 1:59:31 PM PST · by Libloather · 16 replies · 1+ views
    The Skanner ^ | 12/21/10 | Harry C. Alford
    Estate Tax Reduction: A Great Day for Black FamiliesHarry C. Alford NNPA Columnist December 21, 2010 On Dec. 17, Congress passed legislation that will greatly reduce the tax burden on estates. The new law exempts the first $5 million of value that a person leaves to his/her loved ones. After that, the tax rate of 35 percent will be applied to the remainder. This is the lowest rate in 80 years and it is certainly a blessing for Black families. We are now evolving into ownership and business entrepreneurship which allows more and more Blacks to accumulate some wealth to...
  • Did anyone see communist Anthony Weiner (D-NY) interviewed by Megyn Kelly a few minutes ago?

    12/08/2010 11:32:42 AM PST · by Mr. Mojo · 57 replies
    Subject under discussion: the death tax. Few things tick off swine like Weiner more than the gov't not being able to heavily tax people's estates (at 100%, if they had their druthers), and the commie Weiner was true to form. When Megyn challenged him by saying the earned money has already been taxed several times, Weiner turned his head to the side and pouted, refusing to look at the camera. "It's not their money; they're DEAD," he kept repeating in as haughty a manner as possible. And "it's not the heirs' money; they didn't earn it!" I only caught about...
  • Democrats to draw line at estate tax after Obama’s deal with Republicans

    12/08/2010 7:52:40 AM PST · by Qbert · 37 replies · 1+ views
    The Hill ^ | 12/7/2010 | Russell Berman and Mike Lillis
    House Democratic leaders unhappy with the tax-cut deal President Obama struck with Republicans are signaling they will try to draw the line at a GOP-favored proposal for the estate tax. Speaker Nancy Pelosi (D-Calif.) on Tuesday escalated the Democratic criticism of the agreement and said the estate-tax provision was “a bridge too far.” The comments by Pelosi and other party leaders reflected widespread anger among House Democrats at the president for caving too early, by their characterization, and essentially leaving them out of final negotiations with Republicans. While Pelosi retains the Speaker’s gavel for nearly another month, the tax-cut endgame...
  • Bring an End to the Death Tax

    12/06/2010 12:53:14 PM PST · by Kaslin · 11 replies
    Townhall.com ^ | December 6, 2010 | Bruce Bialosky
    Author's note: This is the first of a three part series focused on what the new Congress should set as its priorities.The tax cuts passed during the Bush Administration all had sunset clauses – they expire at the end of 2010. The changes to the estate tax were the most fascinating: the amount of exempt assets increased every year and the tax rate decreased every year, until 2010 when – poof! – the entire tax went away. Unfortunately, it’s scheduled to resume again in 2011. If there’s any tax that should not be re-imposed, it is this burdensome tax triggered...
  • Steinbrenner Heirs May Save Millions on Estate Tax (Class warfare at AP)

    07/14/2010 12:01:56 PM PDT · by OldDeckHand · 31 replies
    AP via NY Times ^ | 07/14/2010 | Staff
    CHICAGO (AP) -- Born on the Fourth of July, George Steinbrenner left the world stage with a great sense of timing too.
  • House cancels estate tax repeal, extends current tax rate

    12/03/2009 11:51:04 AM PST · by MaestroLC · 172 replies · 7,063+ views
    Washington Post | December 3, 2009 | Staff
    The House votes 224-199 to cancel a one-year repeal of the estate tax, set to begin next month, and instead permanently extends the current tax, with a top rate of 45 percent on estates larger than $3.5 million.
  • Real Estate Investing In This Economy. Advice? Opinions? Helpful Hints?

    11/23/2009 12:46:41 PM PST · by Reaganesque · 16 replies · 733+ views
    11/23/09 | Reaganesque
    I am a real estate investor (wholesaler, for now) in the Baltimore, MD area and I was wondering if there were other RE investors out there in FRland. I wanted to open a forum thread to discuss strategies on how to invest in these harsh economic times and what to invest in. I've been a Real Estate investor for about a year and believe that we have a huge opportunity to make good money given that the housing market is so low. You know, buy low, sell high, right? However, I would like to talk to other RE investors who...
  • $5Billion fortune of Leona Helmsley’s dog should go to the dogs

    08/12/2009 6:02:00 AM PDT · by JoeProBono · 8 replies · 657+ views
    Examiner ^ | August 11,
    Trouble is living the good life in Florida. I would too, if I had a fortune of $5 Billion (with a “B”). He must have wonderful financial advice because the initial $12 Million (with an “M”) was left to him in a fund to benefit animals. That’s where the trouble began for Trouble. In a suit filed in New York, three animal – welfare groups have filed suit in Manhattan regarding the use of those funds. Named in the suit are The Humane Society of the United States; the American Society for the Prevention of Cruelty to Animals; and Maddie’s...
  • Worries growing about commercial real estate

    05/12/2009 6:11:38 PM PDT · by Flavius · 10 replies · 875+ views
    msnbc ^ | 5/12/09 | ap
    Even as banks grapple with rising foreclosures, many lenders have something else to worry about: A rising tide of potential losses from commercial real estate loans that could reach into the billions.
  • Obama seeks estate tax hike

    05/12/2009 9:41:47 AM PDT · by NormsRevenge · 50 replies · 1,840+ views
    Reuters on Yahoo ^ | 5/12/09 | Kim Dixon
    WASHINGTON (Reuters) – The Obama administration proposed on Monday to raise nearly $60 billion by closing loopholes including those related to the estate tax, and also revived a bid to cap deductions wealthy individuals can claim. Funds raised from the estate tax and other changes would go to beef up a healthcare reserve fund, a $634 billion pot of money President Barack Obama wants to use to revamp the healthcare system and expand insurance to tens of millions of Americans who lack it. The proposals "take on what we believe are a series of unjustifiable loopholes, unjustifiable tax breaks that...
  • Helmsley estate: $136M to charity, $1M to dogs

    04/21/2009 11:46:21 AM PDT · by NormsRevenge · 8 replies · 566+ views
    AP on Yahoo ^ | 4/21/09 | Amy Westfeldt - ap
    NEW YORK – Trustees of real estate baroness Leona Helmsley's estate say they're giving $136 million to charity — with just $1 million going to the dogs. Helmsley's estate announced 53 charitable grants Tuesday, the bulk of which went to New York City hospitals and medical research. The largest grant, $40 million, went to a digestive diseases center at New York-Presbyterian/Weill Cornell Medical Center, while $35 million went to start two research facilities in Helmsley's name at Mount Sinai Medical Center. The estate for Helmsley — who died in 2007 at age 87 — divided $1 million equally to 10...
  • Signs of life in California Real Estate

    04/06/2009 5:01:00 AM PDT · by MeneMeneTekelUpharsin · 13 replies · 831+ views
    CNN Money ^ | 6 April 2009 | Les Christie
    There's is a lot of activity out on the coast that may indicate a reawakening of the housing market there - and across the country. NEW YORK (CNNMoney.com) -- No state has been harder hit by the housing bust than California. It has piled up more foreclosures and has endured among the worst home-price declines. The median price of a single-family home sold in February was $247,590, down 41% from 12 months earlier, according to the California Association of Realtors (CAR). And home construction in the Golden State has nearly vanished: December housing permits shrank to about a quarter of...
  • Do You Think You've Hit Bottom?

    03/01/2009 8:10:28 PM PST · by WayneLusvardi · 19 replies · 926+ views
    Pasadena Sub Rosa ^ | March 1, 2009 | Charles B. Warren
    Do you think you've hit bottom? Oh, no. There's a bottom below. - Malvina Reynolds To begin with after the end of a house price bubble homeowners feel that they have some sort of entitlement to the previous high value of their homes. If they can't get it, they often won't accept lower offers. So, previously established highs tend to be "sticky". This is exemplified by the trend of sales shown in Berkeley, CA, multiple listing data between the late 1960's and early 1980's. Sales volume went down. Inventory went up. Prices didn't drop. There is also normally a "resistance...
  • ESTATE TAX REFORM COULD RAISE MUCH-NEEDED REVENUE (zero in 2010)

    02/11/2009 3:46:19 PM PST · by combat_boots · 25 replies · 904+ views
    Center on Budget and Policy Priorities ^ | March 16, 2005 | Joel Friedman and Ruth Carlitz
    Summary Under current law, the estate tax will be repealed in 2010, and then will be reinstated in 2011. This strange sequence of events will occur because the tax cuts enacted in 2001, including those related to the estate tax, expire after 2010, restoring the law that was in effect prior to 2001. The Administration has called for making the repeal of the estate tax permanent after 2010. The Joint Committee on Taxation estimates that this would reduce revenues by $290 billion through 2015, including $72 billion in 2015 alone. But this estimate essentially captures only the cost of four...
  • Nigeria: Mob Kills 50-Year-Old Man for 'Blasphemy'

    08/13/2008 3:33:10 PM PDT · by forkinsocket · 13 replies · 220+ views
    All Africa ^ | 11 August 2008 | Yusha'u A. Ibrahim
    A 50-year-old Muslim man, who allegedly made a blasphemous statement against Prophet Muhammad, was beaten to death in Kano on Saturday. The man was killed at Sheka Aci Lafiya quarters when some angry Muslim youths besieged his house and beat him to a state of coma. He died shortly after a team of police and Hisbah officials rescued him from the mob, the police said. The man died as he was being rushed to the Murtala Muhammad Specialist Hospital. Witnesses told Daily Trust that the man, though a Muslim, made a statement residents considered as blasphemous against the Holy Prophet...
  • After the Bubble, Ghost Towns Across America

    08/03/2008 4:19:07 PM PDT · by shrinkermd · 34 replies · 336+ views
    Wall Street Journal ^ | 2 August 2008 | Alex Roth
    BENTONVILLE, Ark. -- Dennis Pflueger and his wife won a rent-free year in a nice new house in an expensive subdivision not far from the headquarters of Wal-Mart Stores Inc. As part of the prize, they then have the option to buy the four-bedroom home for $452,000. Mr. Pflueger, a telephone-cable installer who describes himself as an "old redneck," is in the middle of his free year. But the Pfluegers are a bit lonely. Just one other family lives in any of the 28 new or unfinished houses on Foxboro Court. ...Since real-estate tanked, many new planned communities across the...
  • More News on the Tolkien vs. New Line Lawsuit

    07/26/2008 10:50:49 AM PDT · by Oyarsa · 4 replies · 612+ views
    TheOneRing.Net ^ | 7/20/2008 | Altaira
    More News on the Tolkien vs. New Line Lawsuit July 20th, 2008 by Altaira Thanks again to Voronwe_the_Faithful for posting another update on the Tolkien vs. New Line Lawsuit on our message boards: The plaintiffs filed a First Amended Complaint last Monday (which I believe was the last day for them to do so). They have dropped the fiduciary duty cause of action (as expected), but they have asserted new allegations to support the fraud cause of action. They added more specific claims as to how they contend that New Line misrepresented the amount of expenses that it had in...
  • Taxing Ourselves to Death[Ron Paul]

    10/20/2007 11:41:41 AM PDT · by BGHater · 37 replies · 82+ views
    House.gov ^ | 14 Oct 2007 | Ron Paul
    This past week, Congress had an opportunity to permanently repeal the death tax by amending the Tax Collection Responsibility Act of 2007 to include language that ends the estate tax forever. This would have been a good provision in an overall bad bill. 212 Democrats were enough to keep this spectre looming on the horizon if the Bush tax cuts are not renewed in 2011. The bill passed without this silver lining and now we face big in increases taxes and penalties in the next five years. The underlying attitude behind this bill, and the estate tax, is what I...
  • Paulson Says Housing Is Likely To Adversely Affect Economy

    10/16/2007 9:37:42 AM PDT · by shrinkermd · 13 replies · 107+ views
    Wall Street Journal ^ | October 16, 2007 12:07 p.m. | DAMIAN PALETTA
    U.S. Treasury Secretary Henry Paulson offered a sobering view Tuesday of the pressure the housing market was having across the country, saying the decline stood "as the most significant current risk to our economy." Mr. Paulson even acknowledged that problems in credit, mortgage, and housing markets were much more severe than anticipated. "The ongoing housing correction is not ending as quickly as it might have appeared late last year," he said in a speech. "And it now looks like it will continue to adversely impact our economy, our capital markets, and many homeowners for some time yet." Housing prices have...
  • Stocks Dip on Bernanke's Sobering Words (Real Estate Redux)

    10/16/2007 7:58:24 AM PDT · by shrinkermd · 10 replies · 112+ views
    Washington Post And Associated Press ^ | 16 October 2007 | MADLEN READ
    Wall Street extended its retreat Tuesday after Federal Reserve Chairman Ben Bernanke said the night before that the slumping housing market remains a "significant drag" on the economy. Bernanke's comments during a speech at the New York Economic Club revived concerns that a recovery from the summer's credit crisis might take longer than expected _ a sobering thought for investors, who are sifting through mixed third-quarter earnings and watching energy costs rise. The stock market had its biggest drop in more than five weeks Monday after a consortium of banks led by Citigroup Inc., which reported a steep profit decline...
  • STATEMENT OF SENATOR HILLARY RODHAM CLINTON ON ESTATE TAX VOTE

    10/10/2007 10:52:06 AM PDT · by EagleUSA · 26 replies · 1,112+ views
    JustHillary.com ^ | 10/10/2007 | EagleUSA
    "Today the Senate has rightly rejected another shortsighted attempt to repeal the estate tax. It is my hope that today’s vote sends a clear message that another tax cut for the wealthiest Americans at a cost of $1 trillion is exactly the wrong priority for this nation. Indeed, we are still in a time of record deficits, sacrifices are being made by our troops in harms way in Iraq and Afghanistan and many areas of the Gulf Coast remain unlivable with its residents dispersed throughout the country. We have raised the debt limit to $9 trillion. Foreign countries now finance...
  • Your Home Sweet Home: What Is It Worth In A Shifting Market?

    03/16/2007 3:45:38 PM PDT · by shrinkermd · 8 replies · 809+ views
    Investor's Business Daily ^ | 16 March 2007 | KATHLEEN DOLER
    What price tag would you put on your house: a real estate agent's suggested price, the price a nearby home recently sold at, an appraiser's estimate, or another number? ...Location, location, location" still applies — now more than ever, agents and appraisers say. Home values can vary by whether the neighborhood's clean and quiet, in a good school district or even by its proximity to an upscale supermarket. So factor area amenities into the pricing equation ...Great kitchens and baths, with new fixtures, help sell homes. But buyers are getting more energy-conscious and real estate agents say efficient heating and...
  • New real-estate tax on luxurious apartments

    03/13/2007 10:31:06 AM PDT · by eastern · 4 replies · 390+ views
    Russia-InfoCentre ^ | March 13, 2007 | Olga Pletneva
    Very soon a new real-estate tax may be introduced in Russia, the tax, which was originally thought to redress social injustice, to oblige rich Russians to pay more for their apartments. However, the true consequences the tax will cause can hardly be predicted, as it is common practice for the Russian government to introduce a tax without proper preparation works. Russian civil servants obviously think that only rich people can own big apartments in fashionable districts, that is why the new tax isn’t planned for 90% of the country’s inhabitants, whose apartments’ size matches the “tax-free minimal living room”. The...