[Anthony] Marshall criticized JPMorgan for challenging the 2003 transfer to him of Mrs. Astor’s seaside home in Maine, and $5 million from her. Mr. Marshall’s court papers pointed out that the bank had recently notified his lawyers that they had filed amended tax forms for Mrs. Astor, naming the items taxable income rather than gifts. Consequently, Mr. Marshall could face millions of dollars more in income tax.No wonder Mr. Marshall isn't keen to see JPMorgan/Chase appointed as an administrator of his mother's estate!
Thursday, August 23, 2007
Astor Estate: JPMorgan Plays the Tax Card
From yesterday's item in The New York Times: