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Show The Daily Utah Chronicle, Wednesday, January U Student renters may need additional insurance MICHELE HUNT Chronicle staff In the aftermath of the recent Prescott Apts. fire that left many students homeless, interest may increase in obtaining renter's insurance. "If a student can look around in his apartment and see that he has some really valuable things skis, television, or stereo that he could not afford to lose, he should probably get renter's insurance," according to Bip Daniels, director of the University-CommuteHousing Services. Daniels recommends students check with parents to see whether or not they are insured. "One of the biggest mistakes kids make is in saying 'Oh, I'm sure my parents' insurance covers me.' Most policies have small print that discontinues coverage if you aren't living at home," Daniels said. The major problem in obtaining renter's insurance is the condition of the building by LISA occupied. According to a spokesman for Prudential Life Insurance Co., students should live in a building built after 1947. "We look for the quality of the wiring and the capacity of the electrical system to withstand televisions, blow dryers, stereos, curlers, irons, toasters and all the additional appliances students use. Fire doors are also inspected, as well as plumbing and security of the structure. In buildings built before 1947 strict fire regulations are rarely met." Renter's insurance covers all of a student's belongings within the apartment, but the minimum worth of the belongings must total between $4,000 and 56,000. Most policies cost from $39 to SfiO per year, and their availability depends on whether or not the student has suffered a recent loss, and the condition of the building. "If I were a student looking for insurance I would check on the best buy, and also on how easy it is to file a claim once you have suffered a loss," Daniels recommended. "Make sure they won't give you any hassles." From the point of view of the insurance company, a student is not only a poor risk, but financially unprofitable. "When you consider the time it takes to sell the policy, and the agent's commission (usually about $5 from each renter policy), then the expenses, insurance companies are left with about 3. 90 in profit," said the Prudential spokesman. "It's not really worth it." Besides financial problems, students have the reputation for "ripping off" insurance companies, according to the Prudential agent. "In a California case some students all had each other insured, then stole from each other and collet ted from the insurance company," he said. National insurance companies are probably more unwilling to take on students' renter policies, Daniels said, but they would be the best policy to have. "Students should look for a package deal that includes car insurance or something. Go to the company that already insures you and suggest an additional policy for renters," Daniels suggested. Prudential, which Daniels terms a "typical company", offers three types of rates depending upon the number of units in the building. They consider renter's insurance more of a service than a money-makin- g facet of their business. The minimum deductible amount a student may claim is $250. Page Three 11, 1978 low professor folks of will ospecfs lawmakers believe the dec eased would have wished. A recent legislative act recognizes that most of an estate should go to a surviving spouse. For example, the surviving spouse would take the first $50,000 and divide half among the children. If there were no spouse and no children, the money would be distributed successively down through the family. Complications arise in the event of a prior marriage, in which case the surviving spouse gets $50,000 off the top only if all children of the marriage are hers. More problems are c aused when there are illegitimate children of a person who leaves no will. Emory said that particularly incases when substantial amounts of money are involved, unless clear prov isions are made for surviving children, "lots of people may be screaming 'Daddy' at the funeral." Many of these problems can be avoided if a person takes the time to make a will, Emory said. A formal will must be in writing. If typed it must bear the signatures of two witnesses who can swear the signature is valid. A holographic will is one written in one's own hand and signed by that same person, as the Howard Hughes Mormon will supposedly was. Emory said that making your own will is a good idea "if you want to support the Bar", asserting that a great amount of an estate will go to pay lawyer's fees if the will is ETHERIDGE Chronicle staff As soon as a person has either enough money or enough property that he or she cares about who gets it, that person should make a will, according to Law Professor and former University President Alfred C. Emory, who spoke January 10 to the Sack Lunch Seminar group in the Women's by NANCY Resource Center. Emory said that estate planning arises out of the old truism "you can't take it with you" and discussed problems which arise when a person dies intestate, or without a will. Heal so touched on probate, how to lessen or avoid the complications thereof, and how to make a will. Whenever anyone dies, Emory said, someone must distribute the property in an orderly fashion. The court therefore appoints an administrator to gather the assets of the deceased, find the creditors within a specific time period and distribute any leftover property and money. This process is called probating the will and its complications and costs are reduced greatly if an adequate will has been prepared. Emory said when a person dies without a will, his or her wealth and property are distributed according to a plan which most states have adopted, and which he described as a "single plan for everyone which therefore fits no one but was the best the state legislatures could do." Under this plan the law distributes a person's estate among any surviving family members. The amount and order in which it is distributed are set bv statute in the wav the Group selects 3 nominees fiTl (!) J f,4 Sarah Woodhrad Professor and former University President Alfred C. Emory gave pointers on to the audience at Estate Planning Resource Center Sack Women's Tuesday's Law Lunch Seminar. expertise. Emory said that because lawyers are knowledgeable in this area, they are able to anticipate unforeseen occurrences and provide for them. Emory mentioned a few ways to decrease probate or avoid it. One means of creating wealth for a beneficiary outside probate is life insurance. Another is owning property under joint tenancy with express right of survivorship meaning that upon the death of one of the parties, the survivor automatically gains ownership without homemade. having to go through probate. Setting up a The danger in making one's own will, trust is another means of avoiding probate, said Emory, is that you lose the most and can be a sensible way to insure proper money management, Emory added. important thing a lawyer can give r Q ate 8 S, - by BRUCE BAKER Chronicle staff TL& lCL j jF"jfv cm- - I Medical Dean Search Committee chairman Dr. John M. Matsen January 10 submitted the names of three candidates for the vacant post of dean of the University's Medical School to Health Science Vice President Dr. John M. Dixon. The deanship has been vacant since September 15, when Dr. Cedric I. Davern was appointed a University vice president for Academic Affairs. Davern, world renowned geneticist, had served as dean since March of 1976. Acting Dean Dr. Cecil O. Samuelson, Jr. is not among the three names submitted and has not been part of the search process at his own choosing, indicated Matsen. "On the 16th of this month, the Institutional Council will meet and Pres. Gardner will take to them the name of the individual he and Dixon have negotiated with," said Matsen. "The Institutional Council, in an open meeting, Will discuss and pass on that suggestion." According to Matsen, Dixon requested him to chair a search committee last July, and he met with the group the last week in July. He charged the members with selecting three candidates by January 1, eight-memb- er 1978. "We were looking for someone with a good background or a good balance in the areas of research, medical education and patient care," said Matsen. "All three candidates are nationally and internationally recognized in their and all have made particular substantial contributions in one or more of areas these three areas. "I think the dean's position also requires someone who not only understands science and scientific education, but a very savvy individual with respect to working with individuals in the medical school, and in the community and region," said Matsen. About 70 people were scrutinized by the committee, which has met every week since its inception, said Matsen. Ten potential candidates were invited to visit the University. "We did seek out qualified female candidates. We asked them to visit, but none we approached would come and look at the dean's position," said Matsen. Of the 10 who visited, five were invited for a return visit, said Matsen. Davern met and talked privately with all 10 prospects, but, "Davern has not conveyed to the search committee his feelings on these candidates. But I anticipate he will, to Pres. Gardner," said Matsen. 3 6 Reasons Why You're Number One at Continental The six of us at the Research Park Branch seek to make your banking exper- ience positive, pleasant and personal. This facility has a commitment to serve students, faculty and employees of the University Community with a genuine friendliness. We actually know most of our customers by On-Carnp- us If you're tired of being just another number at your bank . . come bank with Continental. Our staff is large enough to offer efficient service and yet small enough to know you. That's why we say you're Number 1 at . Continental Bank Research Park Branch name! Come discover that you too can become well ac- quainted rapidly. 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