Frolik Talks to the New York Times About Sale of Paterno’s Home
Professor Lawrence A. Frolik offered his opinion to the New York Times on Joe Paterno’s more recent decision to transfer full ownership of his home to his wife for $1.00. Frolik questioned the decision, stating that, “I can’t see any tax advantages. If someone told me that, my reaction would be, ‘Are they hoping to shield assets in case if there’s personal liability?’ ” He added, “It sounds like an attempt to avoid personal liability in having assets in his wife’s name.”
Read the full New York Times article here.