Word: electively
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QUALIFIED PERSONAL RESIDENCE TRUST This lets you get a primary residence or vacation home out of your estate. You place it in trust but retain the right to live there for a set number of years. After the term expires, you presumably move to Florida. But you can also elect to rent the house as long as you like. You must survive the original term, though, or the house gets thrown back into your estate. The advantage: when you set up the trust, it amounts to a gift at discounted value. A $1 million house in a 10-year QPRT...
Last fall Bill Clinton tore up his schedule to help elect JOHN STREET mayor of Philadelphia. The President worked the phones, deployed emissaries to get out the vote and made a last-minute visit to Philadelphia for the Democratic candidate, who won by a narrow margin. But Street doesn't seem to be overflowing with gratitude. He has embarrassed the Administration by endorsing a city suit against 14 firearms manufacturers--including Smith & Wesson, which signed an agreement in March to install new safety features in exchange for assurances that the company would be left out of a suit the Federal...
...political third criterion makes the technical problems of the shield pale. When Clinton visits Moscow on June 4 for his first summit with President-elect Vladimir Putin, he wants to make headway on an accord both to slash U.S. and Russian strategic nuclear weapons to between 1,500 and 2,000 and to amend the Anti-ballistic Missile Treaty of 1972 to allow the U.S. to begin building a national missile defense. Instead he may be staring at the collapse of practically every major arms-control treaty...
Democracy means listening to the voters, and that may prove to be a humiliating experience for Britain's prime minister, Tony Blair, when Londoners go the polls Thursday to elect a mayor. Early in his term, Blair urged the revival of citywide government - dismantled by Margaret Thatcher in 1986 - proposing the new post of mayor and a 25-member assembly (the Lord Mayor of London is a ceremonial job centered on the financial district; local government is exercised in the city's 33 boroughs). That was the easy part...
...have power and influence on campus, and they could be our greatest allies," Patricia Ivonne Thompson '01, the Seneca's co-president-elect. "We don't want to burn bridges. We don't want to create animosity. We don't want people to think that we are fighting final clubs...