Word: bequeathing
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...what, in the end, did Saddam bequeath to his people? Some of Iraq's new demons were spawned by him. Remnants of his regime dominate the Sunni insurgency and many jihadist groups. Some of the Shi'ite anger that fuels the current sectarian war can be traced to the mass murder of Shi'ites that the dictator ordered in the 1990s. Saddam's malevolence indirectly begat al-Sadr, who was destined to a quiet life in the seminary of Najaf until Saddam in 1999 ordered the murder of his father and two older brothers, thrusting Muqtada into the limelight...
...give $1 billion to help build a world-class university for his native country, telling TIME, "India desperately needs to improve education ... [And] what is the point of money if it's not made to be given back to society?" Hong Kong actor Jackie Chan said that he would bequeath half his wealth to help Asian youth. In May, Forbes named Chan as one of the world's most generous celebrities in a list that included Bono, Paul McCartney and Oprah Winfrey. And Li Ka-shing, long one of Asia's biggest donors, revealed at a press conference...
...anyone can convert a traditional IRA (whose distributions are taxed as ordinary income) to a Roth IRA (whose distributions are tax free and may be passed to heirs). Converting may not make sense if you are in poor health or do not want to bequeath your IRA. You will have to pay tax on the whole amount over two years. But if you can pay the tax from other funds, converting is a no-brainer...
...Water Dreaming at Kalipinypa brought $A486,500. Klingender noticed something else interesting as well: more than half his sales were going overseas. "A large percentage of Australians buy Aboriginal art for investment or for their super funds," he says. "International collectors are buying to own and love and bequeath...
...sure, there is still criticism of the special breaks royals receive. As part of the deal that saw her start paying income tax in 1993, the Queen arranged inheritance-tax exemptions for what she received from her mother, and what she will bequeath to Charles. But disclosure has usefully illuminated the distinction between her personal wealth and the Crown's. She used to be commonly described as Britain's richest person, with a fortune estimated at $7.6 billion by the Sunday Times Rich List in 1993, but last year's list pegs it at $507 million, making her 180th...