RIP George Steinbrenner

[GMScud]

I hate the Yankees more than any other team in sports (including the Cowpokes), but I'm still human. RIP Mr. Steinbrenner.

[mlmpetert]

RIP Steinbrunner.

That said, im looking forward to how his estate documents are set up. With the repeal of the estate tax this year his 1.5 billion could pass to his heirs estate tax free. But if it just goes to his wife then its not gonna make a difference (except she gets no step up). But if it goes to his kids they get it estate tax free, but they also don’t get a step up in basis, which could oddly enough cost them more then the estate tax depending on what the Yankees were worth back when George bought them. Of course they will only pay more in taxes if the Yankees were purchased on the cheap and they sell the team before they die. I wouldn’t be surprised if special planning was done just for this year, it should be interesting.

[tryfuhl]

Originally Posted by GMScud

I hate the Yankees more than any other team in sports (including the Cowpokes)

whoa...