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Show A-22 Make the equity in your home work Jbryou with HOME EQUITY LINE From REPUBLIC MORTGAGE CORPORATION Make the smart move for FAST CASH Debt Consolidation Refinance Investments For as little as: $71 a month you can have $10,000 CASH! $1 78 a month you can have $25,000 CASH! $355 a month you can have $50,000 CASH! Borr u; S 5X OK ,on apr:ve(j credit and equip." o :"C APF interest only lb! ten years For additional information please contact The Team of Professionals at REPUBLIC MORTGAGE i 4. A 'JLJi :r. t.ri'.i-r, 1912 Sidewinder Park City, (801) 649-8585 1 m mum Take an exotic vacation ...for five minutes Read our Travel Column featured in each Saturday's edition of the Park Record and written by local travel agents. The Park Record. PARK CITY. UTAH AFTORDA5LE I ' MOA51 ELEGANCE L ,r ia li Moab Golf Course Condominium Vacation Rentals 2 & 5 bedroom units complete furnished and accessorized Hiking and biking trails start from your doorstep Spectacular red rock views from outdoor decks Soak, in an outdoor swimming pool Solano Vallejo Condominiums 1 - 301 - 25 Managed by Moab Property Management 50 East Center Street itha in College Education Home Improvements CASH for anv reason jrei Surd: Dr., Ste. 210 Utah - 800 - 297 - 8585 i B - 555 The Park Record Bills make way Continued from A-19 statutory employees, providing for scope of exclusive remedy under Workers' Compensation provisions. Status: 12197 - Senate read first time (introduced): 13197 - Senate sent to Standing Committee. Senate "Bill 59 - Winery Licenses Amendments. Sponsor: Mike Dmitnch. This bill requires Utah wineries to obtain a separate license for each place of manufacture, manufac-ture, storage and sale of wine, and to conduct the manufacturing activities activ-ities of fermentation through bottling bot-tling at each place of manufacture. Status: 1 31 '97 - Senate read first time (introduced). Senate Bill 71 - Landlord-Tenant Landlord-Tenant Amendments. Sponsor: Robert F Montgomery. This bill proposes changes in the Judicial Code as it relates to disputes between landlords and tenants. Specifically, it changes the times involved in orders to vacate, provides pro-vides for service on the tenant by mail or posting if necessary, staying a restitution order upon bond pay Estate planning: relief from submitted by the Utah Ass'n of CPA's Ideally, estate planning should begin when people are m full physical physi-cal and mental health. The unfortunate unfortu-nate reality is that many people only approach estate planning when they become seriously ill or incapacitated. incapacitat-ed. The Utah Association of CPAs sayv that when estate planning is delayed, you risk losing opportunities opportuni-ties to lower estate taxes and transfer trans-fer more of your assets to your heirs instead of giv ing them to U'ncle Sam. Estate planning is a lifelong process to provide for the future security of your heirs. It's important because it gives you control over how your wealth is distributed and can prevent unnecessary" and expensive expen-sive disputes about the disposition of your assets as well as the caretak-mg caretak-mg ot your children upon your death. Here are some of the key elements ele-ments of estate planning and steps you can take to minimize taxes on your heirs' inheritance. The Need for an Updated Will A will spells out who will receive your property at the time of your death, who will be the executor of your estate, and who will serve as guardian of your children. It ensures that your assets are distributed according to your wishes. It's important impor-tant to review your will periodically to make sure that it addresses any changes in your life such as the death of a spouse, birth of a new child or grandchild, or a second marriage. mar-riage. Also, check with y our CPA to find out if any tax law changes necessitate changes to your will. The Unified Gift and Estate Tax Uncle Sam allows everyone to get a unified tax credit that, in effect, lets $600,000 pass to your heirs tax-free. tax-free. As soon as your estate exceeds this amount, you're subject to federal feder-al estate taxes which range from 37 to 55 percent. You may also be subject to state Wednesday February 12 Thursday February 13 Friday February 14 Saturday February 15 Sunday February 16 Monday February 17 Tuesday February 18 Wednesday February 19 A PRIVATE CLUB FOR MEMBERS 306 Main Sf 649-6800 ment and court order, and permits donation of tenants' personal property prop-erty in some circumstances. Status: 13197 - Senate read first time (introduced). Senate Bill 73 - Contractor Duties to Subcontractors. Sponsor: L. Alma Mansell. This bill addresses address-es payment obligations under construction con-struction contracts between contractors con-tractors and subcontractors, and affects contracts executed, renewed or materially modified on or after May 5. 1997.' Status: 12097 - Senate read first time (introduced), sent to Standing Committee: 12797 -Senate committee report amended: 12897 - Senate read and passed second time: 12997 - Senate read and passed third time (210-8). sent to House: 13097 - House read first time (introduced): 13197 - House sent to standing committee. Senate Bill 103 - Consumer Protection Amendments. Sponsor: David L. Buhler. This bill amends the definitions of "transactional resources " in existing consumer protection law to include any mail drop or mail box (whether or not inheritance or estate taxes. Keep in mind that if you own a home, have lots of stock, a large pension, expen-sive expen-sive jewelry or collectibles, vou can easily exceed the $600,000' threshold. thresh-old. That's why it's important to rev iew your total assets periodically to determine how much you need to remove from your estate to avoid triggering the estate tax or to minimize mini-mize it. One way to remove money from your estate is by making large gifts. The IRS allows you to make annual annu-al gifts of up to $10,000 of property per individual $20,000 if you are electing to make a joint gift with a spouse without any tax ramifications ramifica-tions and without reducing your unified tax credit. Gifts that are larger than these amounts are generally gen-erally subject to gift tax. The Role of Charitable Gifts in an Estate Plan Another way to remove property proper-ty from your taxable estate is by giving it to your favorite charity either while you are alive or through your will. If you make such gifts while you are alive, you receive a deduction on your income tax return. You can set up a trust to bequeath assets to a charity for its use after you die. In the meantime, you collect the income from these assets. After your death or. in some cases, after the death of the surviving surviv-ing beneficiary, the property passes to the charity. Taxes and the Surviving Spouse You can transfer an unlimited amount of assets to your spouse tax-free. However, doing so may not always be beneficial to your family. Such transfers can boost the surviving spouse's assets over the $600,000 threshold and result in increased estate taxes when he or she dies. A way to provide for a spouse without risking incurring higher estate taxes is to create a bypass trust. This vehicle allows the deceased spouse's assets to transfer JAM BAND WALL? CLEAVER & THE BEAVERS ZION TRIBE ZION TRIBE CONTROL OPEN DISCO NIGHT JAM BAND through maze located on the premises of a U.S. Post Office) and Internet connection connec-tion by a resident or state inhabitant inhabi-tant (regardless of location of the Internet site's maintainer)Starus: 12097 - Senate read first time (introduced); 12197 - Senate sent to Standing Committee: 12797 -Senate committee report favorable: 12897 - Senate read and passed second time: 12997 - Senate read and passed third time (220-7). sent to House: 13097 - House read first time (introduced): 13197 - House sent to standing committee. Senate Bill 112 - Dramshop Liability Amendments. Sponsor: David L. Buhler. This bill seeks to modify liability provisions and eliminate the statutory cap on liability lia-bility under the existing Dramshop Act. Status: 12097 - Senate read first time (introduced); 12297 -Senate sent to Standing Committee; 12797 - Senate committee com-mittee report substituted new bill; 13097 - Senate read, amended, passed second time; 13197 -Senate read, amended and passed (28 0-1 ). sent to House with amend to a trust instead of directly to the surviving spouse. The trust can be managed to provide ongoing income to the surviving spouse with the principal transferring to other heirs upon the surviving spouse's death. Life Insurance Trust Another option is to set up an irrevocable life insurance trust. This arrangement is similar to a bypass trust. At your death, life insurance proceeds would go directly into a trust instead of to a beneficiary, effectively removing the money Password unique? by Bruce Lewis OF THE RECORD STAFF We've all seen them... the pesky little programs which ask us to designate des-ignate and use a password to protect pro-tect the data on our computers. Password requests come at all levels, lev-els, from networks and operating systems to individual programs and Internet access providers' systems. sys-tems. Password protection is designed to keep unauthorized people from getting into, using, changing or deleting your data, or using things which could spell disaster dis-aster to you personally, such as your checking account or your brokerage account. Passwords usually range from four to eight characters sometimes more and are supposed to be unique to each individual. Indeed, passwords are supposed to be different for each program or access level used. So why are password systems sometimes so easily by-passed when hackers those intent on getting into the systems attack systems? Just as sophisticated word processing pro-cessing and database manipulation software has been written, so too have the hackers developed an Grand Opening, Absolutely Free. Jj I'll I I 1 fTrr III U-JUTwI I Jt J IF A GRAND OPENING OF YOUR CLOSET IS IN ORDER NOW IS THE TIME TO CALL CLOSET SPACE. This month we'll install the highest quality closet available, absolutely free. You pay for the materials, and we'll pay for the labor. Just give us a call, mention this ad, and we'll draw up the perfect closet for your individual needs. HURRY! This Grand Opening offer lasts only through the end of February 1997 Limit one installation per family. Not valid with other offers. CALL FOR' YOUR FREE IN-HOME CONSULTATION TODAY. Park City (801) 647-9979 Provo (801)377-6464 Salt Lake City (80 1 ) 355-6767 Ogden (80 1 ) 394-6767 Toll Free (800) 750-9052 Wednesday February 12, 1997 ments; 2397 - House read first time (introduced); 2497 - House sent to standing committee. Senate Bill 157 - Beer Industry Fair Dealing Act Sponsor: Leonard M. Blackham. This legislation legisla-tion proposes the Beer Industry Fair Dealing Act, which would provide pro-vide limits on and procedures for termination of a beer distributorship distributor-ship agreement, prohibits certain conduct, requires that compensation compensa-tion be paid for prohibited acts, provides requirements for wholesalers whole-salers and sets severability circumstances. circum-stances. Status: 13197 Senate read first time (introduced); 2797 Senate sent to Standing Committee. Senate Bill 160 - Beer License Amendments. Sponsor: Leonard M. Blackham. This proposal amends definitions, amends restrictions restric-tions on licensed beer retailers, and changes application requirements and operational restrictions on wholesalers. Status: 13197 Senate read first time (Introduced): 2797 Senate sent to Standing Committee. tax grip from your estate for estate tax purposes. pur-poses. A trustee (who could be a family member) would then invest the money based on your instructions, instruc-tions, and the investment proceeds could provide the surviving spouse or other designated individuals with a steady stream of income. Many other trust arrangements also exist that can benefit your family fam-ily and minimize your tax burden. CPAs urge you to look at all your options and emphasize that, ultimately, ulti-mately, the right estate planning strategy for you will depend on the amount of your assets and the financial needs of your family. arsenal of password-guessing software. soft-ware. The software enables hackers hack-ers to automate the game of guessing guess-ing your password, thus saving them time and effort. According to data from Deloitte and Touche's fraud unit, human nature often assists hackers. hack-ers. Deloitte and Touche is a top accounting firm which performs computer systems audits for governments gov-ernments and corporations. With a little personal data about their target, tar-get, hackers can cut the range of their choices remarkably. In surveying companies with thousands of employees, a "top ten" list of commonly used passwords pass-words crops up surprisingly often: Commonly Used Passwords 1. Your first, last, or kid's name 2. "SECRET' 3. Stress-related words such as "DEADLINE," "WORK" 4. Sports team names or sports terms 5. "PAYDAY" 6. "BONKERS" 7. The current season ("WINTER," ("WIN-TER," "SPRING") 8. The user's ethnic group 9. Repeated characters ("AAAA" "ZZZZ") 10. Obscenities and sexual terms r J tcw |