OCR Text |
Show 4 THE SAMPLER Friday, Feb. 26, 1982 a WSftlfo your Way The question that many people ask, Whats so important about having a will, qrn be answered very simply. A will lets you decide who will get what portion of your estate when you die. In other words, it lets you dispose of your personal and real property in the manner that you want. - one-ha- will. one-thir- and sisters, and even nieces and nephews in some states. Such laws can prove quite unfair to the surviving spouse of a couple who have shared equally in acquiring their joint estate. . - When only children are left, they receive the property in equal shares. When there are no heirs; the estate gpes to the state. Another disadvantage of not having a will.is that a court appointed administrator is required. This ' means: the person appointed may or may not be someone you would have selected, and a portion of your estate will have to go for paying the administrators fees. Such fees can run into thousands of dollars, consuming money that otherwise could have gone to your heirs. . Since a will has no legal effect until you die, it can be changed as your circumstances change. In other words, if you marry, you can include your ' A question that many married couples ask is, Should both spouses have wills? wife and family; if you divorce, you can alter your ' ' The answer is simple. Yes. will accordingly.. Spouses frequently make reciprocal wills, that In legal terms, a person without a will is said to is wills which compliment each other. For examhave died intestate and the laws of intestacy ple, each spouse will provide for the other spouse apply. and then the children, appoint the same guardian and distribute the estate in the same general The same thing happens if a person write? a will manner. and the will is declared invalid because it is not You .and you alone have control over hqw your' legally acceptable for one reason or another. estate will be distributed, and that control can be exercised very simply by drawing up a will. is a term that the Intestacy legal meaning deceased died without making arrangements for Today, when many families are not original of his assets settlement and the that or her estate, groups, meaning that husband or wife or both have children then must be distributed according to state laws. If by former marriages, it is even more for-onto provide ahead of time for the you die without a will, your property will be distri- necessary e buted as specified in the laws of your state of legal division of his or her property. residence, or home state, as it is called. Thinking about the various ways you could draw These laws vary from state to state. This is one up your will provides an opportunity for family marked disadvantage of not having made a will. consultations and agreement on certain decisions. Another disadvantage is that state laws may pro- It also provides a natural way of forcing the family vide for property division among persons you group to recognize the possibility of the death of the husband or wife, the mother or father, and as a would not have chosen. result, make rational plans broader than just drawUnder most state laws in the absence of a will, ing up a will. not all of your estate would go to your surviving Take the first see your lawyer or legal assisspouse If you have children by a present or former tance officer step,and have a will drawn up. . today marriage. The children would inherit a portion of your estate in their own right regardless of their Letter of instruction the at time. ages Theres another document that should also be prepared, but this one you draw, up yourself. It has Under Utah law, the estate of a person who dies many names but is most frequently called a letter and is survived by a spouse and children, in the of instruction. absence of a will, would pass as follows: the spouse of the balance takes the first $50,000 plus one-ha- lf In it you cover matters in the settlement of your of the estate ami the remainder passes to.the child-- . estate that are not part of your will. The purpose it ren in equal shares. . . , - that should be covered in Among the subjects are: instruction your letter of A listing of all your insurance coverage, along with the names and current addresses of beneficiaries, the issuing company(ies), policy numbers, l and agent. You should also put into this section any special insurance policies you may have through membership in an auto club, credit organization. union, or fraternal-veteran- s - The location of birth and marriage certificates, divorce documents, mortgage and deed on the house and other real estate, tax returns, and personal financial papers. Savings, checking and credit union account numbers, name of the savings institutions, and the location of passbooks, plus who has access to the account. the-loca- .. Whether you own only the clothes oh your back and, say, a car or have equity on a house, other parcels of real property, bank accounts, stocks,, and the like, a will is a necessity if you want to control who gets what. In fact, a will is the only way you can retain control over the way your estate will be handled. bobbte brook and ends of your life. A letter of instruction has no legal status. It those portions merely serves as a guide in settlingbe cannot covered in a which of your estate or life When a wife or husband but no children are left, the surving spouse- may inherit the entire estate under the laws of some states. But in other states, the surviving spouse gets only a portion of the lf d with the reor estate, usually maining going to the deceaseds parents, brothers . . - rd Everyone, whether single or married, should have a will. But if you are married, having a will becomes even more important. Through a will you can decide not only who gets your estate, but also you will have a say in who is responsible for looking after minor children and their shares of what you own. Dying without a will or whoever the exserires is to aid your spouse ecutor of your will is in drawing together all odds Generally speaking, the wife or husband would inherit one-thiof the' estate and the to one-ha- lf children would share in the balance. . The name of your bank, plus such information as the location of a safe deposit box and key, and the name of anyone with access to the box. A record of all debts, loans and credit cards, with information on any pertinent credit insurance coverage. record of U.S. savings bonds and their location, as well as records of any other stocks or bonds you might be holding. Your personal wishes with regard to your funeral and place of burial. A list of your military benefits available to your spouse and survivors, social security benefits, and Veterans Administration rights. This section alone can be extensive. Among service benefits are d pay and allowances at the time of death, household gpods storage and movement, survivor medical care under CHAMPUS and in military medical facilities (for persons who die on active duty or retire). Survivor Benefit Plan coverage (for persons on active duty and elegible to retire at time of death or retired) and commissary and exchange privileges. A un-pai- Other valuable survivor benefits may le due from the Social Security Administration or the Vetrans Administration. It is helpful to include information booklets regarding these benefits with your letter of instruction. At the least, include a note telling your survivors to visit social security and Veterans Administration offices and file claims. Death is devastating for the survivors; help to ease the anguish of your heirs by having a will pre- pared and keeping it current., (Reprinted from Pentagram News). . The Deseret Sampler LADIES PANTS The Deseret Sampler is published by the 88 Publishing Company of Tooele. Utah as a civilian enterprise in the interest of personnel at Dugway Proving Ground, Utah. ; Everything advertised in this publication must be made available for purchase, use, or patronage without regard to race, creed, color of national origin of the purchaser, user, or patron. A confirmed violation or rejection of this policy of equal opporadvertiser will result in the refusal to tunity by-thprint advertising from that source. Business and advertising matters concerning the paper should be addressed to the Tooele Transcript Bulletin, 58 N. Main St., Tooele, Utah 84074 or call Transcript-Bulleti- 4 H.P. CURT. D ENGINE -- (801) K 'V'' J',-'., U1 V, v i' 'Is f 6. !'(' s1' YOU SAVE 225.01 - adidas LEATHER JOGGING SHOE ing shoe! Stylish leather uppers and blua rubber WESTERN BOOTS LIST UP TO MO Outstanding valua on assorted styles of quality made Acme boots. Rugged leather boot will get you through the roughest terrain with tough lug soles. pastels & dark colors. Reg. to 9.98 3 When it's Hurry in. ' gone. good OuanYitiu limited. No Rainchedcs .ster SfMNG Skating is fHn and great exercise too! Buy a pair now & ENGINE IN LAYAWAY FOR 75 ARRIVING Jeans Class Coming Soon! DOWN HOLDS YOUR MERCURY DAYS ! 98 new Sign vp for our Designer for spring! 5240, 5247, 5246 In 2238 75 p STRETCH VELOUR GIVES YOU THE POWER OF A FULL SIZE OUTBOARD WITH THE GAS CONSUMPTION OF A TROLLING MOTOR! , - FAST, SURE STARTS WITH THE CONSTRUCTION - 5.5 CUBIC INCH DISPLACEMENT 3 FUELAIR INTAKE PORTS GIVE YOU EXTRA THRUST FOR ALL THE POWER YOULL NEED LIGHTWEIGHT & PORTABLE - WEIGHS ONLY 36 LBS. FORWARD & NEUTRAL - HAND THROTTLE CONTROL MAXIMUM CORROSION PROTECTION INSIDE & OUT A MUST FOR ALUMINUM FISHING BOATS, OR AS A SECONDTROLUNG MOTOR FOR LARGER CRAFTS BOYS S GIRLS ROLLERSKATES OUR REC. hi-to- 60" Widths BUY - NEVER TO BE DUPLICATED! rolled osnor MO VALUE ILSg(U)T! A ONE TIME . COUNTRY SQUIRE WORK BOOTS AB 725 Cm bt worn as a comfortable leisure sboe or as a lightweight train- Country Squire Its an REG. LIST cascade1 sole. 882-005- 0. News items for publication should be sent to the Public Affairs Officer, Dugway Proving Ground. Dugway, Utah 84022, or call (801) 522-211The Sampler is published twice monthly bv offset method. ' f. '.- -j n i dailyj 'How Hours NO ADDITIONAL CHARGE! Pally 9:30 a.m. to 6 p.m. Pen Wednesdays till 8 p.m. 1 215 HO. r.lAIH, Hie Store 105 Worth Main - t . .; ... '. .in. ,t- . 882-68- 86 'u |