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Show THE OGDEN VALLEY NEWS Volume IV, Issue V Page 7 June 15, 2001 Split Dollar Life Insurance Personal Insurance Paid With Corporate Dollars As a business owner, you are the driving force behind your company. Over the years, you have given it the care it needed to thrive. Your company has prospered, so have you. This personal prosperity creates an ever-greater need for adequate life insurance to protect the assets and lifestyle you’ve built. Moreover, you need increasing coverage to keep pace with even a modest rate of inflation. The $100,000 policy you may have bought five years ago would have to be $200,000 today to provide the same purchasing power. Split dollar life insurance can be the ideal answer to these needs. It’s an opportunity to provide yourself, or a valued employee, a major benefit at a very low cost. How Split Dollar Works In a split-dollar plan, your company and you, or a selected employee, enter into an agreement. The company pays the premiums. Then, when the insured person dies, the proceeds are split between your company and the insured’s beneficiary. Your company receives back the amount it paid over the years in premiums, and the beneficiary receives the rest. A Small Price For A Large Benefit Under a split-dollar plan, you and your key employees can obtain a large amount of insurance coverage at very little cost. The only cost to your company is the interest it might have earned on the insurance premiums paid. And, although the IRS considers this a taxable benefit, the tax is far lower than the value of the policy’s proceeds, and even lower than its annual premium. A Multipurpose Benefit You can use the split-dollar concept to benefit your company in several ways. Use it to pay your own personal insurance premiums or to reward and retain valued key employees. Or, use it to attract new, high-level employees. You may want to use split-dollar as a “salary increase” with only a small actual increase in the employee’s tax burden. And, the IRS allows you to legally favor key employees, giving you great latitude about who you choose to reward. “It’s a Wonderful Wedding” Rainbow Gardens at the mouth of Ogden Canyon is pleased to announce the winner of our contest event of the year, “It’s A Wonderful Wedding.” In late January of 2001 Rainbow started to take applications, and during the following three months, over 30 couples entered the contest for a complementary wedding at Rainbow Gardens. On April 28, 2001 a drawing was held to determine the fortunate winners—Miss Melanie Lujan and Mr. Jason Beckstead, both of Ogden. The couple will receive an all-expensepaid, magical wedding that includes over $10,000 worth of services, all donated by Rainbow Gardens and Ogden-area top wedding experts. This stunning nuptial event will take place on Saturday, June 16, 2001 at Rainbow Gardens. At 11:00 a.m. sharp, the charming, young couple will take the marital plunge in Rainbow’s Gift Garden, the famous former indoor swimming pool. A beautiful luncheon, two receptions, cake cutting and more will mark the rest of this festive afternoon to which the general public is most cordially invited. It is expected that of the over 6,000 invited guests, several thousand well-wishers will show up at various times during the day to offer their toasts to the bride and groom. This incredible event marks the first of its kind in Ogden City. However, the affair revives a 1940’s tradition of Rainbow’s founder; the marrying mayor of Ogden, Harman W. Peery, who performed wedding ceremonies on the premises of his establishments (i.e: the former Old Mill Inn, and Riverside Gardens—now Rainbow Gardens). This article has been provided by Calvin Welling, CLU, ChFC, CFP 2506 Madison Ave. Ogden, UT 84403 (801) 399-5409. Sensational Sand You’ve probably noticed—in your yard or at the playground—how much your child likes to dig in the sand. Sand is great fun, but it’s also a wonderful material for learning. Children learn mathematical and scientific concepts from playing at a sand table. For instance, when kids pour sand from measuring cup to measuring cup, they are likely to be learning about estimation, volume, texture, and even counting and simple physics. As children play with sand, encourage them to talk about what they are doing or experiencing. For instance, we might ask, “Does the sand feel different when it is wet?” or “How did you get the sand so smooth on your castle?” Have you ever longed to dig your toes into the sand? Sand has the same soothing effect on children. We find that kids who are frustrated, annoyed, or angry often choose the sand center to work out those feelings. You can encourage sand play at home by providing a sandbox. It does not need to be large. One excellent and inexpensive sandbox is a bin or busboy tray (available at restaurant suppliers, some discount stores and flea markets) filled with sand. Bins and trays are portable, easy to clean, and easily stored. Provide measuring cups and spoons and other plastic containers to support sand play. Melanie Lujan and Jason Beckstead, the winners of “It’s a Wonderful Wedding.” SNOW-N-MOW Trent Rounkles Of course, spills and stray sand go with the territory. With indoor sand play, a sheet or large piece of plastic will help contain the mess, but the benefits are well worth any temporary inconvenience. 1413 28th St. Ogden, UT 84403 Home (801) 393-6072 Cell (801) 564-2230 Note: This article is provided courtesy of the Old Firehouse Child Care. Source: Stanley Friendly Communications from Early Childhood Program. Published by NAEYC. * Senior Discounts Professional *Lawn Care *Pruning *Fertilizing *Weed Control *Snow Removal *Sprinkler Systems *Aeration *Satisfaction Guaranteed CALL TO INQUIRE ABOUT OUR FREE OFFER. Real Estate Done Right! Gary Bingham, , GRI It takes more than traditional methods to sell a home in today’s market. My Seller’s Edge Home Marketing System and “Talking House” can make the critical difference. Planning to buy a home in our wonderful Valley? I’m an “Accredited Buyer’s Representative.” Gary Bingham 388-0607 Office: 745-4663 E-mail: lottahomes@aol.com www.garybinghamproperties.com 2595 North Hwy. 162 Eden, UT 84310 |