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  #1251  
Old May 4th, 2017, 10:19 AM
johnlee johnlee is offline
John Lee
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What about the Rule Against Perpetuities?:

https://en.wikipedia.org/wiki/Rule_against_perpetuities
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  #1252  
Old May 5th, 2017, 06:06 AM
ronward ronward is offline
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Join Date: Oct 2003
Location: Columbus, GA
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Well, the asset would have to pass from the owners estate to an heir outright, or to a trust with beneficiaries. John's point about the RAP can usually be managed by bestowing a power of appointment to a beneficiary of the trust. In other words, the great-grandson, let's say, of the original owner of the Ferrari could be the beneficiary of the trust that owns it and that trust could give him a limited power of appointment enabling the transfer of the vehicle into another trust, or outright to another heir via his will before the RAP kicks in. All this is theoretical without knowing if a valid will exists, what that will says, and if there are any existing or testamentary trust instruments.
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  #1253  
Old May 5th, 2017, 09:41 AM
johnlee johnlee is offline
John Lee
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It always amazes me when someone tries to exercise dominion over property or his children's lives after he dies.

You're dead, dude. Just let it go.
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  #1254  
Old May 5th, 2017, 11:46 AM
ronward ronward is offline
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Quote:
Originally Posted by johnlee
It always amazes me when someone tries to exercise dominion over property or his children's lives after he dies.

You're dead, dude. Just let it go.

Agreed. In this case it is likely that multiple trusts existed to eliminate or delay estate taxes even after the surviving spouses death. Hate to have to sell the Ferrari at auction in order to pay estate taxes on other, less liquid property.
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  #1255  
Old May 6th, 2017, 12:02 PM
johnlee johnlee is offline
John Lee
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  #1256  
Old May 6th, 2017, 12:27 PM
johnlee johnlee is offline
John Lee
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Another nice SWB for Bill:


Quote:
1961 Ferrari 250 GT SWB/C (s/n: 3005GT) during Saturday Practice for the RAC TT Celebration race at the 2011 Goodwood Revival.

Due to the SWB's racecar-that-doesn't-look-like-a-racecar styling, I think I might like the SWB more with bumpers than without:

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  #1257  
Old May 6th, 2017, 11:23 PM
traveltoad traveltoad is online now
Aaron Shrier
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Join Date: Dec 2003
Location: San Fernando Valley
Posts: 2,628
I prefer without bumpers.
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2007 KTM 950R Super Enduro - FOR SALE
2010 KTM 250XC-W
2016 SoulCraft Dirtbomb
2016 FoundryOverland

You only lost went running out o gas ,the rest is exploring Javier

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  #1258  
Old May 7th, 2017, 08:42 AM
dankemper dankemper is offline
Dan Kemper
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I am really digging those SWBs
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  #1259  
Old May 8th, 2017, 02:47 PM
hks3sgte hks3sgte is offline
Cesar Gomez
 
Join Date: Apr 2012
Location: Los Angeles, CA
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I like the bumpers

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  #1260  
Old May 8th, 2017, 05:20 PM
blue blue is offline
Bill Gill, aka chump hater
 
Join Date: Sep 2003
Location: Scottsdale, Arizona
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That's a tough call...with or without bumpers. I like them both. I love the overall stylized proportions - looks like something a kid would draw for "race car" (a talented kid).
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2004 D2

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  #1261  
Old May 16th, 2017, 10:58 AM
johnlee johnlee is offline
John Lee
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  #1262  
Old May 17th, 2017, 11:14 AM
johnlee johnlee is offline
John Lee
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  #1263  
Old May 22nd, 2017, 12:05 PM
johnlee johnlee is offline
John Lee
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Join Date: Sep 2003
Location: Torrance, CA
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Quote:
1964 Ferrari 250 GTO/64 s/n 5571GT
60 Years of Ferrari in America

After the successes of the GTO in 1962 and 1963 Ferrari designed newer, more aerodynamic bodywork for the GTO's for the 1964 season. This car was the first of three built by the factory; sold to Luigi Chinetti, it was driven by Phil Hill and Pedro Rodriguez to victory in it's first race, the Daytona Continental, followed by a first in class at the 12 Hours of Sebring. After a DNF at LeMans, Rodriguez drove it to two class wins in two races at Nassau, followed by Hill's class win in the Nassau Trophy, the featured race of the event.
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  #1264  
Old May 23rd, 2017, 03:01 PM
johnlee johnlee is offline
John Lee
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Location: Torrance, CA
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Quote:
1964 Daytona Continental - Winning Ferrari 250 GTO

Phil Hill and Pedro Rodriguez won the 1964 Daytona Continental in this NART Frerari 250 GTO (chassis #5571GT). It was essentually a street car with a racing number placed on the door and hood. The good old days when you could drive to the track, enter and race the car, and if the car survived drive it home. Dave Friedman photo.
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  #1265  
Old May 24th, 2017, 10:28 AM
johnlee johnlee is offline
John Lee
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  #1266  
Old May 26th, 2017, 12:25 PM
johnlee johnlee is offline
John Lee
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  #1267  
Old May 26th, 2017, 04:30 PM
traveltoad traveltoad is online now
Aaron Shrier
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Join Date: Dec 2003
Location: San Fernando Valley
Posts: 2,628
Quote:
Originally Posted by johnlee

Oh man, that's sexy.
____________________
2003 Discovery
2007 KTM 950R Super Enduro - FOR SALE
2010 KTM 250XC-W
2016 SoulCraft Dirtbomb
2016 FoundryOverland

You only lost went running out o gas ,the rest is exploring Javier

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  #1268  
Old May 30th, 2017, 03:55 PM
johnlee johnlee is offline
John Lee
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  #1269  
Old June 6th, 2017, 03:01 PM
johnlee johnlee is offline
John Lee
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  #1270  
Old June 7th, 2017, 10:52 AM
hks3sgte hks3sgte is offline
Cesar Gomez
 
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  #1271  
Old June 7th, 2017, 11:43 AM
hks3sgte hks3sgte is offline
Cesar Gomez
 
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  #1272  
Old June 13th, 2017, 04:22 PM
johnlee johnlee is offline
John Lee
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Location: Torrance, CA
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Quote:
Belgium racing

1961 Ferrari 250 GT Berlinetta Competizione #2445 GT with his racing colours from Ecurie Francorchamps.

Trofeo Nastro Rosso at Dijon Prenois during Grand Prix de l'Age d'Or 2017
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  #1273  
Old June 16th, 2017, 11:36 AM
hks3sgte hks3sgte is offline
Cesar Gomez
 
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  #1274  
Old June 20th, 2017, 01:50 PM
johnlee johnlee is offline
John Lee
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  #1275  
Old June 20th, 2017, 02:59 PM
hks3sgte hks3sgte is offline
Cesar Gomez
 
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