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Show ; Estate Taxes and Trusts No Longer A Concern Only For The Rich Fascinating Food Fair Scheduled For Thursday (h Ufkm lull cui (null n ruMtig mh, llwiAi la MUtuat eqmlt iltueg - nxuuiig tlm rang fd 4 tb teM and Met el 14 hm4 lAUMjg t4 HI 14 I partmrtrt could lUira that a pit wa mal m 4 txaXrmjiUttua mh ly if that wm mad wtthti) tix Lo three of the it KlUillil(l, Hut Ikt, la wi !''. u,y mi, rUnty .u la HI, rut. lupnrrt Many WW4 in iWih I MX I law in tH tiHann U4 , 4!ui m M i too wuih, Many farmm k)Mi mtn wralthing a liuug out uf 40 arm at to Mttklrtil? Iuk) the Uim mwth invi ibunxaixt lUtar M aixl reaftun LmUii.g dmr la tuiv M fur vriau rel thf Piret e. and imala, d W.u Ufe, Therefore, mix tarn by 4 nut gift, plan bong three jean, after a pit bmade. pfUki) relate in rirutio, MotJiJuj. ihu tn 3 , ?. Nut with MUtum f on to rr This bong) up the qurtlxat t4 Male planning to at to attxd Hot las late on the pmjirrtv unit ytrnr spuum and ctuUfirn to me and yre, Vour at twur, tnnt niftier. acwwntaid. or bfe uxler--writson in planning tan your (Male lo reduce them Use t,, er ant KMklnxIJr, IOI' M X ay, 1 hat a will, and 4 I dxiukl dm, my ru.it Into a tnnt fur my tsnulys pn Tint b a TniamruUiy Inwt," tannrr HmiW or a tnnt utxler a will. If jjannnl j4mig Hi relate, hi tamilv ireir.il 4 projwdy, 4 will effrtl the detired UihrrMUig xulnt.ntul to lax tatmgv Ibmetcr, uxh teta-m4arHu thru Mum may fmd Innli nunt probated Ihry am tunl with Mini safe W the etlale tan ever le pit la pay I ha Mala inhere atx and ft o tnnt. It b pro) d a nj like any FreJrral fjlale law wliuh nunt Other will, and then the executor I paid tuna numth ahar dralh, b directed liy the court to tdace the etlale in tnnt m atToniance lafa fnunwt fonurdv ta with the term of the will. Mure ix4 taxed liy I Ha Fnlrul tUtat thn will liettimet a matter oer, Ta. Than I ha law (Hanged lo t4 puldic record through prutaale, alkm a 140,000 rum Hum. j whkh mean anyone and everyone 4 changed again, ta (unhiding yoitr competitor) can now all prarmh of a pmani life see the pobbm at the tnnt for intMianra mini iixiudrd in hi mlale for laulxm jm tha ama your family. Futtheimam, and een mom a c4har Fcdaral Fdale the ofiruiiun of the serioii, la1 al 4 pm ml and gu at tnnt will le open lo the High a 77 rtatil. politic (im lulling your conqicti-lor- ) It h poKMlde, at com, for a every year a iaig a it b in wan Ida la t ireured under a effect lirtaine the trutire mutt file piluy owned ly tnntrane c4har an acemuft each year with the than hiirerlf, and ihi it frequent-l- y court. advKJJa. For example, a pole Thb piddle p4 light at ity could t owned Ity a wife, lie avoided ly retting up can and if prrtnimtH warn paid out a "living Tnnt." It b called livof her outt itxlrpmdrot fund Iretame ft b ret up while the and I he huthand had no control ing" tnntor h alive with plant for today over the policy, than H is not n a well as for the ful me. As tnnt awrt of the hndiand hae life is under a will, or a teMamrntary inuimd. It need nt4 be btlrd b a plan for the future only. tnnt, on the lu relum The at an "living Tnnt" or Inter Vivos when he it decerned, and (he proTnnt"hrt uptorerve the tnntor ceed at the policy am not tub-Jrwhile he lives at well as take cam lo any ta al all. at hb estate and lienrficiaries after GIFTS l IDE in conletnpla hb death. tkm at dralh am laable in a man's MANY PEOPLE think that etlale jiM at though the gift had once a tnnt h set up, the tnntors not Iran made. Thi bring up (he hand am tied, that be has no say-s- o very difhctill quretkm of when a over what b done with bis gift b or b not made in contemA tnntor actually mainproperty. plation of dralh. When federal tain control in a "Living Trust." estate late were lint imposed He can change ft, add to it, or ? many yean ago, them was no such revoke it in part or entirely. thing a a gift tax; therefore when If the trustee h a "corporate a old man he or ; skit, weatlhly gol fiduciary" (tilth as a liank or tnnt proceeded lo reduce the taxes on company), the tnnt b provided hit etlale by giving a large tha re with management of funds and of hi rli lo hb wife and chil- investments. Real estate managedren. It seem that every lime a ment and tax assistance am also 'taxpayer finds a loojihole, the lax available for the tnnt, and should collector gels Congress lo change the tnntor liecome ill or incapacithe laws so as lo plug the loophole. tated, the tnntee can keep the In l'50 the law was amended estate functioning to provide funds lo provide that the Treasury De- - for his cag and support of his -art py y art. 9 oprretuig for Irw tre under lire tnMurx wipriiouo, M b scry bf heuk far anytmx to tUun ht the Inntor WxiwqMxni or tuxicr ihuvw whm we ret up. ft b apjotnu that pUmung nd (belting unr (Mel and will ek. am out el wet umj4 It b imjxiitent, Hrerefuro, to dee) with tnnt Thom who ten help am leaser, benh Im4 utbcrrt, rtrrtv amuMein Toorlc Transcript, Friday, July 23, 1076 Tin? and umtietx at Feeluiutg aft hum nittMki of doting hath, whet to (torn, wheat uulb, lured sutreis, end ibliminrlf jm-frfur making fiutf doer, and O' wage dirltn (hr Tourl Fifth Haul Mmeg Fair t all xt Hu Thuredev rtming, July 22 Sate of lh Fair I lit Tmml 3th 4h Wanl chaiet, at him fnk - ad t'rer. ksnrtlMtt 4 b brl4u to rerk th ad at aft four wbrm tb tit net urn b imulied Two guwl tlaixet wtaiUI In a lawyer and a (tank tnnt (diner. In any rteot. left, to a lawyer m4 Im tui all am tnuired and npnrwtd for tb Aq4kwni Mrupettuu t4 mutxm jWiture ptnyxluaua am likely to fat kern rumprti-Ixa- t, atrunhng lo the ltTti-7eiliiHin 4 Thrupatuxtel Oi4-kItemftaxA in Iktrf," pulu Wwl by tb l4k Department of u leitr, tb DCertmrt4 bunt and Utah Atroue, ouh the tail whriulrd to Irngm at 7 pw The f ail will akn heir denxm. (iialxat aix UtHmiieixui o ai Ma wheat null, and rnunr of wheel, hunry till idrirxl mill Thum that am MdenMed will W Im dkiwi) law to (Mnlnxt (?U0etsiil9 eHU) Q. I er4 I dal wratil) I'M dtsri and rtmage tbrblng card but dea't Ilk th Idea ft Im ridertem-Miand lo an jutuiure hasing la answrr M nf prr. eiim atkeial thuW, mmI uetio an th applka-i- t. Why cant I jut git ) and y gist m lh nans my card and namhrr? A. A certain amount ut haic infmmeiKio ixft as date and needed so pU of btith-e- rc social sootriiy can keep an accurate reconJ of taut work credit and tamings. I uture benefits will depend on that record. exactly lb cam at and w both earned maximum wages cwsrrrd by social security for at trad tb Iasi It years, let when w hath retired at HS this year; he started getting S7 mnre In retirement checks each nrenih. Ilw cwme? 4 Retirement benefit A. amounts generally are based on a worker's ierce after I9J0. after the 5 lowest years are dropped Although you and Jim earned the same wages for the past 10 years, he must have bad higher covered earnings ut some years before this. rsirt Under the law, information about you on your social security record is confidential, Q. My friend Jim and I ate A Q. I has a small farm and hired high schaal bay le help put up bay a frw wks this summer. D I nerd ta report the wages? A, If you paid him SI SO or more, or if he worked 20 or mote days for cash wages on a lime basis (by the hour, day, or week), you must report hit wages and pay the social security contributions at the end of the year lo the Internal Revenue Sense For a free copy of a leaflet that esplaint more about reporung farm wages, call or write any social security office. fin-ne- (4 lelor Metittx-- t rtlimelrt them will Im 1,(115 annual njirtiiiigt thnwigh 'IH$ dim to s sating Uuiut eixnt In pup-mr- )b "Welcome lo our economy flight, f m your pilot... when airborne lU come bark and rerv Kool Aid.' wr la-l- nl Open ftcpameb cana from th bottom and carefully pull tha stalks out by th and theelrr drtign. c are nda. teta-menta- pro-Ital- arl BIG SEMI-ANNU- CLEARANCE SALE! STORE-WID- E AL ! Every Department Is Cleaning Up . . . And Giving Super Bargains. . . To Make Room For Fall Mdse. The Store. Listed Below Are Just A Few of the 100's of Items Available Thru-out et lAHHiitlM: I The government's food labeling system for fruits and vegetables is incredibly baffling -and sometimes rips shoppers off liy making them think theyre getting top quality when they arent, charges a consumer expert. People find grade and size labeling totally confusing. There is no way for a shopper to determine whats the top grade," declared Ellen Haas consumer coordinator for the Washington-base- d Consumer Nutrition Institute. National Enquirer News Service. - SWIM SUITS JUMP SUIT Ladies and Girls Soma dbla. knit and cottons and poly blend 1 08- VALUES TO 24.95 - REG. 5.00 Values to 8.00 250 ea. Ladies SHOE SALE Mens Canvas Aut. colors and Childrens SHOE SALE oynoes $000 $coo 3 Off TANK TOPS Boys Sizes 2 20 Reduced B,o!si," TANK TOPS Mens Sixes The Living Tnnt" is a confidential arrangement between the tnntor and his tnntee which liars public semtiny, since it avoids proliate. It functions immediately upon death without the delay and expense of proliate. In effect, it allows the trustor to "probate his own estate while he lives. WITH JUST a will it is not unusual for relatives, friends, servants, employees, or even charities to challenge the will. Such suits are typically filed during or after probate by relatives disappointed because they were not named, or because they received less than anticipated.. However, where a trust has been set up and has been Entire Stock MENS family. , FOOD LABELING L'ADIESIDEP.T $300 W fARRIIANOESTGIF.TSI Pioneer Days Specials! Man who hides ! Fold-Do- Mens COUCHES Fancy Yoked (Here Covers) SHIRTS savings in Now $788 waterbed wn $1 o900 PRESTO may liquidate 288 1 assets" (Cooks hot dogs in WESTERN SUITS 7-PIE- Heavy Reg. 46.00 $29 REG. minute) 95 Reduced steel-porcela- in 6'4 Bank Cards quarterly dividend Federally Tooeles Biggest Dept. Store Welcome insured to $40,000 CHARGE IT! TOOELE FEDERAL On Your Jacks Revolving Charge Account CREDIT UNION 882-432- 2 Over $13 million in assets Cs More Than A Clothing Store yd. Hooded Grill Bar-B-Q- ue with moder and spit ware 24 2288 30.00 99 Special 24-I- n. CE Put your money where its safe. . . with us $3 9.95 COOKWARE SETS (3 choice colors) Reg. (2 colors) Regency 500 Ladies young indian proverb 1 or CARPET HOT DOGGER his - Indoor-Outdo- Plenty Free Rear Parking JACKS WILL 85 Shop Fridays till 7 p.m. BE CLOSED SAT., JULY i 24th |
