http://www.profootballtalk.com/2009/…ughter-passes/
never a good thing to see.
wasn’t she the one that was gonna get the bills once ralph passes?
:meh: I hate cancer.
not to be a dick but does that mean the bills are staying in buffalo after ralph dies or are there more wilsons who can sell the team? R>I>P>
Repots, but thanks for being more descriptive.
yeah, this thread isn’t doing much for me. Skunk’s got the W on this one.
lol ty 
sorry toe the R-POTS
but i did offer more detail and links to go with. a thread is not a thread without LINKS!
He has three daughters, and none of them are willing to pay the massive inheritence tax that would come from them getting the team. So despite this one passing you can still expect them to be the LA Bills at some point.
i was under the impression that the inharitance tax was already payed for and that his daughters just didnt want the team.
sad…
How would that be possible? As far as I know the tax is paid on the value at the time of death. Did he work out some special deal?
He is also stubborn, and it’s that stubbornness that has prevented him from finding a group to partner with to pay his potential inheritance taxes and assure that the Bills stay in Buffalo, possibly with a better stadium. Wilson refuses to even consider selling a portion of the team, even though it might mean saving his franchise.
Sounds like a no on the pre-payment.
i honestly have no idea. I was told by someone that ralph has been paying it off over the years but it may just be rumors or the guy may not know what he is talking about.
either way i dont see ralph living much longer. noone wants to outlive there children.
lol @ people and their “knowledge” of high end estate planning.
I think this is a repost
Not me. Can this be done? I don’t see how. For one thing the kids would have to pay the taxes otherwise it would be a taxable gift, correct?
All I know is what my father has told me and you have to jump through hoops to avoid the death tax. It really is a ridiculous. It is pretty pathetic that if my father wants to give me something I have to pay taxes on the transaction. Think about that. Crazy!
Yes and No… technically you can calculate the value of an estate, figure how much would be needed to pay the inheritance, estate, death, probate, attorney fees, etc etc etc… Buy life insurance, put it in a trust, and have it set up to pay for these costs automatically…
as for your fathers question…
He can Gift 13k per year per donee… so if hes married he can donate 26k to you, your brother, your sister, his mother, his friend, etc etc etc… every year.
The Lifetime excemption is 1 million…
This is all very basic estate planning… it can be leveraged even further with proper planning. (this is what I do for a living… if you had further questions I’d be more than willing to help)
It all comes back to the rule of 7 P’s
“Prior Proper Planning Prevents Pathetically Poor Performance”
The firm that I work for deals with highly affluent (Multi-millionaire) clients, and has saved people millions upon millions by planning ahead…
Did you just quote your post inside of your post? Holy hell who pissed in your cheerios?
so your saying that it is possible that ralph has money already set aside to automaticly pay off his inheritance tax? Im sure ralph has an army of financial advisors taking care of his assets.lol
I’m saying he probably has adequate life insurance (in a trust) to cover his costs at his death.
This is one of my favorite ESTATE PLANNING FAILS…
Bob Magness. Founder of TCI Cable
http://gift-estate.com/article/InheritedWealth.pdf
Died with a simple will drafted in 1996 ( a couple months before death)
Cliffs.
Bobby’s worth ~$1,000,000,000
- Bobby dies without properly planning
- his second wife sharon (whos like 30 years younger) gets a measly 55 Million
- The 2 sons get millions!!! and get a tax bill of $500,000,000 (OUCH)
- The sons sell 30 million shares of the stock @ low value
- Well, what happens when you sell off a ton of shares… the price tanks and the shareholders sue
- The wife sues because she thinks she deserves 1/2 the estate
- Entire state of colorado (taxpayers) are given $45 for the “unexprected tax windfall”
- the wife settles for 100 million
- the sons get 124 million
- federal government gets 500 million
- Lawyers earned untold millions for straightening out the mess.
- the most ironic thing, he was less than 24 hours away from signing a new estate plan.