Quote:
Originally Posted by afc wimbledon
There could be I suppose, but Paterno earned about 1 million a year, and has done for some time, he's an old man with a modest lifestyle who had devouted himself to his coaching, in short one can assume, a multi millionaire.
Spouses dont generally pay any estate tax's either as it is considered jointly held assets, and even if Pennsylvania was different from any jurisdiction I have ever heard off and did force widows to pay tax on the matrimonial home it would be a pittance in comparison with their assets.
To be frank under the circumstances it looks like an attempt to shield what is likely the only asset he can shield, his 'liquid' assets will be frozen quite quickly and will stay frozen for years as the various court cases are heard and even if he wasn't found liable, would effectively leave him and his wife pennyless likely until death.
You can believe what you want but like everything else in this case this stinks to high heaven.
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that's garbage. Absolute garbage.
Until you come up with some better evidence that he was hiding assets, I'm on the tax planning side of things.