Tax Court ruling may let elderly couple gift family home tax free
A U S Tax Court decision says a husband may gift the family home to his wife without triggering estate tax, if he remains in the home. The ruling notes such arrangements reflect natural use and do not bar the wife’s enjoyment. It cautions transfers must outlast three years to avoid inheritance tax concerns. The decision could encourage older homeowners to pass property to children while minimizing taxes, within existing gift tax exemptions. In this case the couple’s home remained with the wife, who could later transfer it to children, subject to gift tax rules.
MENTIONED IN THIS ARTICLE
Martin E. Segal
U.S
Internal Revenue Service
IRS
E Court
Deserter Panagoulis Receives Death Sentence in Greece
AP reports military court in Athens condemns 30 year old Alexander Panagoulis to death for plotting to assassinate Premier George Papadopoulos and overthrow the regime. He also gets 18 years for desertion and possessing a firearm, and refuses clemency. Government expected to commute to life imprisonment. In Bangkok, a secret Communist helicopter field was found in Nakorn Phanom Province, Thailand, according to Premier Thanom.
MENTIONED IN THIS ARTICLE
Associated Press
Athens
Greece
George Papadopoulos
Alexander Panagoulis
Panagoulis
Bangkok
Thailand
Nakorn Phanom
Thanom Kittikachorn
Thanom
Welcome To The Fold and Northern Ireland Disobedience Drive
Reports confirm Communist helicopters delivering supplies to terrorists in Thailand and Nakorn Phanom among six air bases aiding Vietnam war. In Northern Ireland Catholics push civil disobedience to end Protestant dominance, demanding abolishment of the Special Powers Act and local reforms. A baby boy Damian Israel Repolle is born in Manhattan with noted grandparents.
MENTIONED IN THIS ARTICLE
Thailand
U.S
Nakorn Phanom
United States
Vietnam
Londonderry
Northern Ireland
Dward McAteer
Thon
Refu
McAteer
Israel Repolle
Manhattan
N.Y
Damian Israel
Mt. Sinai Hospital
Carl Freeman
Dayton
Carmen Soto
New York
N. D
Maine Briefs Summary of Local News and Appointments
Easton reports a nine year old boy died accidentally after being tangled in rope in woods behind his home. The boy’s father discovered the body and the medical examiner ruled the death accidental. In Machias, many Maine public employees will attend a community planning workshop at Washington State College across four Saturdays in December and January. The Maine Municipal Association co sponsors the program with the University of Maine, using Washington County towns as model sites. In Portland, Northeast Airlines credits jet service with boosting freight handling, reporting 101 405 pounds shipped last month up from 44 754 in October 1967. In Augusta, Peter M Dambore, resigning director of the Maine State Employees Association, will become director of publications for the Connecticut State Employees Association starting January.
MENTIONED IN THIS ARTICLE
Easton
Clifford Condon Jr
Clifford Condon
Machias
Maine
Washington State College
University of Maine
Washington County
Maine Municipal Association
Portland
Northeast Airlines
Richard E. Jones
Ortland
Augusta
Maine State Employes Association
Connecticut
Brownie Troop 33 Meets In Saco
A meeting of Saco Brownie Troop 33 was held at the home of Mrs. Florence Cloutier on Hill Street. Flag ceremonies and group singing were held with attendees listed, including Judy Duross, Jane Cartier, Debra Ridley, Janet LeClaire, Claire Fisher, Terry Tardiff, Veronica Petit, Lynn Trask, Deborah Morris, Debora Paquette, Donna Dubie, Shari Gallant, Patty Gagnon, and Mrs. Glennora Tardiff, assistant leader. More than a million salmon may make the Fraser River autumn spawning run, covering 300 miles in 18 years at about 17 miles per day.
MENTIONED IN THIS ARTICLE
Saco Brownie Troop 33
Florence Cloutier
Hill Street
Saco
Judy Duross
Jane Cartier
Debra Ridley
Janet LeClaire
Claire Fisher
Terry Tardiff
Veronica Petit
Lynn Trask
Deborah Morris
Debora Paquette
Donna Dubie
Shari Gallant
Patty Gagnon
Glennora Tardiff
Fraser River
British Columbia
Also Mentioned on This Page
Brighton
England
Seafront Marine Hotel
John Casey
Biddeford-Saco Journal
Everett Lee Henry III
Everett Lee Henry II
Cookman Ave
Old Orchard Beach
Dean Padgett
Millerton, Pa
Everett Henry
Warwick
R. I
Verdwore & Lumber Everywhere
Warp Bros
Simee
THE
MR. David
Germaine Sharkey
Fern Reardon
Connie Gleason
Joan Scimecki
Cynthia Cook
Pearl Jacques
Subarite Hair Design
Saco Valley Shopping Center
Cae
Brownie Troop
Bruce D. Fairweather
Robert Fairweather
West Kennebunk
33Rd Armor
3Rd Armored Div
Germany
Mattel
TOG
Cher
Santas
Santa Claus
Santa
Indiana
Biddeford Shopping Center
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