Paris in Poorhouse After Gramps Gives $$$ Away?

31. I've said this a hundred times...Paris is no heiress -- in any shape or form.

Posted at 3:59PM on Jan 2nd 2008 by Catsy

32. It doesn't really matter if Paris doesn't inherit a lot or anything at all. She can still manage to make money on her own. She's got her own fragrance, handbag line, jewelry, plus she gets paid to make appearances, etc. etc. Don't get me wrong I don't like Paris at all, so I'm not trying to back up or defend her, I'm just saying she can still make money on her own.

Posted at 9:41AM on Dec 27th 2007 by Oh SNAP it\\\'s ME!

33. 30 mil dosent last long in So. California. Living a frugal life will last less than 10 years.
A very modest house sells for 5 mil .

Posted at 9:42AM on Dec 27th 2007 by L.A. Woman

34. if Paris runs out of money she can simply make another porn tape. Two nights in Paris - the sequel!

Posted at 9:44AM on Dec 27th 2007 by Trin

35. To #30 -- Oh Snap

That merchandise is not Paris'. She just leases her name to manufacturers who do all of the work. This is why she is often referred to as "Parisite." A well-deserved nickname for someone with no talent or education.

Posted at 9:50AM on Dec 27th 2007 by GeorgeS

36. Good for Grandpa Hilton!! Warren Buffet is leaving the bulk of his estate to charity as well!! More of the uber rich sould do the same.

As for him not "loving his family" that's rubbish: they seem to be doing OK as it is, and they have not been cut out entirely. More importantly, it's HIS money, his children are grown, and he has absolutely no obligation to leave anything to them....he can do with it what he wants.

Posted at 10:01AM on Dec 27th 2007 by rminva

37. Good for Gramps! It's a lovely gift for charity and the money will be used well.

Posted at 10:17AM on Dec 27th 2007 by Anonymous

38. I agree with #9. This is very likely a ploy to escape the tax man. The rich have been doing it for years and blatantly bragging about it in good ol' Uncle Sammy's face. Leona said it best, "We don't pay taxes. Only the little people pay taxes."
The Spears family is one big train wreck led by that skeezy locomotive of a mother. Your 16 year old gets knocked up and you sell the story to the tabloids???? What an utterly disgusting piece of filth.

Posted at 10:19AM on Dec 27th 2007 by Yeah Right

39. #4 - What "one" mistake are you talking about? The sex tape? Paris has done far worse things than that... like a failing TV show for example.

Paris will be set financially whether she inherits B's fortune or not. She gets made almost half a million just to show up at night clubs to party. I think she'll be okay.

You don't know millions to secure a family and their education. Only a couple hundred thousand would do. It's her lifestyle that needs changing.

Posted at 10:25AM on Dec 27th 2007 by John

40. Things that make me go..."Hmm."

Paris better go back to giving gramps BJ's. He'll like her again real quick.

Brit & mommy make daddy bust arse, while they give arse away.

Posted at 10:39AM on Dec 27th 2007 by Roger C

41. Good for Grandpa Hilton--helping charity and keeping the ho out of hotel.

Posted at 10:43AM on Dec 27th 2007 by wasted days and wasted nights

42. FIRST, POSTER # (28), IS CORRECT, PARIS IS NOT AN HEIRESS TO ANYTHING!!!!. SECOND, THIS IS NOTHING BUT A "FREAKING TAX SCAM", FOR THE RICH!!!!. GO CHECK OUT THE BOARD OF THIS FOUNDATION!!!!, MOSTLY HILTON'S???, IMAGINE THAT. LET US NOT FORGET, YOU CAN NOT APPLY FOR A GRANT FROM THIS FOUNDATION, THEY HAVE TO COME TO YOU!. CAN YOU SAY "TAX SCAM FOR THE RICH". BUT WHAT REALLY, MADE ME LAUGH WAS HIS FATHER, LEFT "HIS", SELF MADE FORTUNE, TO THE CATHOLIC CHUCH,AS CHARITY, AND ONLY ($250,000), TO HIM, HE CRIED FOUL, AND WAS IN COURT WANTING ALL HIS FATHER'S MONEY, AND HE WON!!!.SO THINK ABOUT IT, HAD HE NOT PAID OFF THE JUDGE, PARIS WOULD BE WORKING AT (MICKEY D's), DURING THE DAY AND YOUR LOCAL STRIP CLUB AT NIGHT!!!, AND SOME PORN VIDEO'S ON THE WEEKEND!!!!

Posted at 10:44AM on Dec 27th 2007 by NO SURPRISE HERE!!!

43. omg i cant believe it,maybe paris was drunk..... :O

Posted at 6:48AM on Dec 30th 2007 by princess

44. If this is true, I say right on Grandpa Barron! Parents and Grandparents don't need to leave their off spring anything. You are not supposed to sit on your ass and wait for the older generation to die so you can receive a windfall and sit on your ass some more. It has nothing to do with love or not loving #4 Google. I am sorry but Paris Hilton, her sister and their mother Kathy are just rich bitch jokes. What can they really do that is worth while? If the Hilton fortune went completely down the toilet, what would they really be able to do? Yeah, give it to charity...give it all Pops Barron.

Posted at 10:52AM on Dec 27th 2007 by completely disgusted

45. I guess the public are fools.

Barron has to create/or give the money to a charitable trust in order to avoid paying taxes. Charitable trusts by law have to allocate a percentage of their worth to "charitable causes" in order to maintain a tax free status.

This means that Barron Hilton is putting his capital gains, which, if given to Paris under an inheritance, may have been taxed, into a trust that avoids the taxes. This then means that the Hilton family still control what happens with the shares, and other shares or securities may be traded by the trust without taxes (since the charity technically owns the shares.)

But who controls the charity? The Hiltons. So it's still "their" money, they don't pay heavy taxes and look "good" by using X% of the money for what are legally defined as "charitable endeavors."

The charitable trust can pay its "officers" i.e. the Hiltons, a "salary" for "working" for the charity.

In either case Paris is hardly in the poor house, and is completely set-up for the rest of her life. Poor her.

Amazes me when the public buys this story.

Posted at 10:52AM on Dec 27th 2007 by Trust me I know.