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Show REVIEW, September 8, 1966 B2 "When You N e'pd A' Lawyer is nothing wrong with our or property are paid to his widow in a lump sum, she wanting to save on taxes. Your lawyer plays an immight spend it all in just a money fiat was portant part in planning your few years estate because a correct meant to care for tar the rest of her life. understanding of the law reLarge inheritances have lating to taxation, wills, real property, domestic relations financed many a second marand Inheritance is very necesriage that didnt last once sary to intelligent planning. the mooev was gone. A well Execution of a will is an planned trust could prevent essential part of any family such tragedies and give lifeestate plan. time protection and security Trusts are frequently used to the widow. Under provision of a living as a device to conserve an estate. If you own trust, a tank as trustee inestate, you run the vests the money you have a, Property will tuned over and collects inbe taxed ?ur times as It terest and dividends, paying passes to your wife, child and you monthly, quarterly, semi1 annually or annually as you grandchild respectively. prefer. This type of trust however, you leave your property in trust for the benefit can relieve you of of your wife during her lifemanagement respontime and after her death for sibilities by putting your in Passed as a World War I death la the femily uslike measure federal revenue up questions ually brings these: estate tax has been in exisDo we need a lawyer? tence since 1916. It applies What should we do with in every state and is imposed Aunt Nelly's last will and on the right to transfer protestament that we found? perty at death. It is based If Pm mentioned in the cm the gross estate, rather , will, bow can I find out what than on just the amount os I'm inheriting? share received by an indiviSometimes when a death dual beneficiary. occurs in your immediate Sometimes it is very unwise family It is imperative to to file an estate tax return until consult a lawyer right away. at least twelve months have When a husband dies, a lawyer elapsed after death. Why? can help the widow in many The tax law provides that an even the before funeral, alternate valuation date may ways, He may be able to make t used the alternate date funds available from a joint being one year after death. bank account that is some- - In some estates where the A tax-savi- ng vestments into the hands of a full-titrustee -- a specialist in such matters. . If you become unable because of illness or injury to handle your own affairs, the living trust provides competent, continuous care of your This eliminates property. the need for a conservator or guardiaa to handle you r affairs. You can terminate or make changes in a living trust at any time as long as you remain mentally competent me court-appoint- times automatically blocked -- by death of one of the joint tenants. (Sometimes it is extremely simple and quick to obtain the release of funds from a joint bank account.) He can explain what expenses should be paid at once and what bills should be deferred for later payment. "What About Nellys Will? What Aunt Nelly dies, her relatives checked the family home for anything of her will. value-inc- luding In the of a dresser drawer they found a paper written and signed in Aunt Nellys spidery handwriting. It was labeled My Will. , They asked each other, What do we do 'with it? If you find anything among the decedents personal effects that looks remotely like a will, take It to a lawyer right away. If Its a handwritten (holographic) will, a lawyer can probably tell you whether or not he thinks it could stand up in court as a valid will and be admitted to probate. Even though you know another will has already been found and taken to a lawyer, you may be violating the law if you dont turn in the one you found. If you live in another city and receive a notice in the mail indicating that you are mentioned in the Will, consult a lawyer in your own city if corner can probably get the Information for you. If you fail to do so promptly, you may lose some or all of your rights. There are two forms of "death taxes: state inheritance tax and the federal estate tax. market value of securities or other property has declined the twelve-mon- th during period thousands of dollars in taxes are saved through use of the alternate valimtion date. If you ever serve as executor or administrator of a large estate you will have many duties aad responsibilities. If you carelessly handle estate funds or allow them to dwindle by paying money too fast to creditors and dont leave enough in the estate to pay federal estate taxes, you could be in real trouble. The law holds the executor or administrator cf an estate personally liable for such taxes. You might aid up haring to pay them out of your own pocket for death taxes must be paid before distribution of the IS out BUSINESS This is one of the Important advantages of this particular device in estate planning a device Oat you, yourself can observe inaction. GAIL f. DYWATEtt DIAGNOSIS CENTER AUTOMOTIVE voT ed TUNING DYNAMOMETER . State School Board BRAKES LUBRICATION BATTERIES TIRES WHEEL ALIGNING AUTOMATIC TRANSMISSIONS 123 Pd. by Martin Comrn. mu time-consum- the benefit of the children, you can save on taxes. A testamentary trust (included in a will) takes effect after the death of file testator and is often designed for the protection of a widow. In some cases a husband may have been heavily insured. If the proceeds of his life insurance and any other cash HOKSEPOWEK last 4th So. 322-35- 47 YM IN A M SHOP THURSDAY ON.m NIGHT Unwind... i estate. Estate planning is the name gives in recent years to the activity of organ! ting your financial and property matters for your own security today and in your retirement years, as well as for the security of your family after you are gone. People are becoming increasingly Interested in minimizing axes so that more of their estate can be passed on to their loved ones. Frequently, when asked for suggestions as to how taxes can be minimized, the lawyer recommends an estate plan that involves the use of the following:' one or more trusts, the marital, deduction, a pro- - I- - What will you do about it at Tuesdays Election? WIsaS mi then reward yourself with Americas most popular whiskey. Seagrams 7 Crown-T- he Sure One. gifts estate planning Although should never be considered as ng a mere device, courts have held that there lax-savi- StkGRUI OISTIIURS COMPANY, KW TOR CITY. MiNOtO WHISKEY M PROOF il 6RAM Ibd u m :t.o no Ho ais linhrra mJj sw W9l i! Mu af ijquq id shu jx & orrlwKB .3fkn leaaakcw lo ' to . -- ifaui v JcLfO So-10- n 1 ns9f hul 4 a. 6.x . I l doitfw y ) il Ik . IttttTtN. SPHtITl Inheritance Tax All states except Nevada have some form of inheritance tax. This is collected after death in addition to the federal estate tax that is collected throughout the United States. Danger that an estate will have to pay more than one set of state death taxes is increasing because so many Americans art on the move. This gives rise to what is known as a "double domicile tax problem. Theres no rule that prevents more than one state from claiming death taxes an the same property. If you spend time in more than one state, you may still be able to save your estate from double death taxes. Make very dear now by words and deeds wlier you legally re- OSCAR HANSON, JR. Planning to remodel : or build? k A I ' 40 yean af proven integrity Success in many civic and business activities former elected official Demonstrated experience and ability Fighting for responsible use of your tax dollar open bidding on all purchases, economy ana efficiency better flood control in roadwork, management. side. rjnnTTGD flameless Taxes are ELECTRIC .UJAif - HEAT was beyond your reach. No need to feel that way any longer. New developments now make it so much easier to convert to flameless home heating. . Free Roof Inspection By For All the Good Things in Your Home Only Electric Heat Is Good Enough Established QUALITY & SERVICE ' ABOVE ALL RX CLAWSON n MORRIS ANDERSON SUPERIOR ROOFING. INC. 266-147- 3 ma Owners of Total CK, Electric Homes Mm id Mail D H. Wi KISS Thomas G. Judd Jarea L. Jones Carter . Jones' Therma M. Crosby Warner P. Jarrell K. A. Crockett Adams Karl Jensen Rovden D. Derrick Athas Don X, Kenny Davison A. Ralph W. Allen Keith L. K night C.XDavis Harry Ahlstrom Elmer D. Davis Henry P- - Kipp J. R. Atktnaon Arthur Kaudsen Daniel A. Joe u. W. AJrsman John B. Z. Klstler L. Hall Thomasuui Veryl E. Doty W. H. Adam W. G. Kophn Stanford P. Darg- -r Gene W.HiJlia Umar E. Brown H. CarlW. Huhl A. Durnl Kenneth W. Buber William Waiter Klethng Earl C. Draney George A. Holt Kyle Bettflyon Kaate H. W. D. Thomas Hansen Frank E. Dole Jim Berrett U. J. Kuhre William A. Dawson DeLemar Holt Emory W. Berrett it J. E. Lehnherr L. M. Bealy T. Dixon Glen TwWond J Barker, Jr. Homid a. Luke, Jr. D. &. Hansen Melvin B. Eteen Joe Brie Oarence H. Lee X. A. Heart J. K. Dastrup Milton A. Brown H Writer X. Langborat W. Dawson S. Fred Kirby F. Barton George Merlin Rex J. Hanton Jack H. Douglas W. Burt Buxton Dynald B.JL Horrocks J. Everett James W. Belem, Jr. Glen R. L. Fuller Eugene C. Hanson Bruce G. McKee, Jr. Charles B. Bartlett Wm. Hurkina, Jr. Warren W. McGuire Rex L. Full Albert R. Bowen Venn McArthur L, K. Irvine Charles Grover' Gua P. Backman Charles M. Griffin D. Curtia JenkinS Georw A. MrClallan Theodor. Christy Fred M. Moors Leonard D. Giacomo Earl D. Johnson M. Crail Tim Geertsen Harold j ki j-r Mary MfOSMATION J. G. Mott W. J. Madison, Jr. Emery A. Morrill Malar 1 Ml 10 or budd a now ho- -o Moor ran. M, wrthout oMgaooo, troo ntannaboa on oiattac hooting. Low Rate NAME an ptannuig ta romodal ADME CITY. . STATE . Because It's Electric, Its Better! UTAH POWER & LIGHT. CO. 4 Year County Commissioner tmi by llct Hanton Committal. Tom Judd, Cbob Tatlawd W. KKofar Vaughn D. Spendlove Mill I m. SaH Loko CHy. Utah I A. W. ShephSxi Tom Timofey Denard R. Trentar H. P. Thomas Owen H. Thomas Manning Rex T. Tripp Niederfcausw George dark Vanderhoof Frank B. Newman Richard A. Van Winkle Sterling H. Nelson J. G. Vane Margery W,.Nicris W. C Van Etten Nicholson H. J. R. J. Vombeur Richard L. Wood Richard L. Webber F. S. Walden Harold F. Wills Ralph B. Wrigit W. Squires Poriman Lyle L. Williarx Robert F. ifceyher E. A. Walker ... . Melbourne aomney MarJean G. Wright Glen Yoon David K. Roberts Vera K. Yi Helen H. Romney J. Heber Beeat C. Cash Rampton Jam RaX John B. Vote Republican tot WhH, Mgr. -i-d Morkotag DM-UtaPm Light Co. Receive A Special far Electricity HIGH all-ti- me all-tim- Youve probably heard a lot about the wonderful advantages of electric heat. But you may have thought electric heat Firm an LOW Responsibility is at an e Vote Hanson for better government Join your neighbors Edward O. Anderson Read Alderman S. Anderson I ft at I |