Hey, New Jersey, Your Tax Base Is Too Narrow

davidtepper

David Tepper is a hedge fund manager whose company is located in New Jersey.  He is also a resident of the Garden State (misnomer alert). He recently announced that he was moving his corporate headquarters and his personal residence to Florida.  The NJ state budget director then stated that this move could affect the amount of tax revenues generated by NJ.  

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Apple, Italians, and Ecryption

apple Leonardo-Fabbretti-jpgIn a topic that is evergreen, an Italian man adopted a boy from Ethiopia in 2007.  The boy tragically died of cancer last year at the age of 13.  The boy owned an iPhone 6 which both he and his father accessed by finger print ID.  After his son died, the father lost access to the phone because he claims the phone restarted during an access attempt.  The father has since written to Tim Cook begging him to assist with unlocking the phone so he can see the last two months of his son’s photos and life.   Apple has been unable to assist him.  In lieu of unlocking the phone, the guy has said he will accept a donation to an orphanage benefiting Ethiopian children.

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Guardians, Drugs, and Embezzlement

boston guardian

 

A Massachusetts man was appointed guardian of his niece and nephew when their parents died in a car crash in 2009.  The man was recently indicted for allegedly stealing approximately $250,000 from their trust fund in the 11 months after he was released from rehab.  He pleaded not guilty.

Three very quick points:

  1. I always recommend that clients designate different individuals to serve as guardian and trustee.
  2. If different people, the guardian should be able to ascertain if the trustee is stealing from the trust.
  3. Embezzlers are smart enough to not use stolen funds to buy tangible property, but not smart enough to avoid being caught.  Such is the lot of gambling and drug addicts.   

Back From Beaver Creek

jack boarding

 

Post to follow tomorrow.  Meanwhile, here is a pic of Jack in the terrain park.

 

The Morning Line (Again)

mick cronin

Paul Daugherty has once again graciously allowed me to guest write his The Morning Line blog for the Cincinnati Enquirer.   It is primarily about Mick Cronin.  I hope you enjoy it.