Show WHITHER YOUR WILL By LE ANN BLODGETT A holograph will is legal in the state of but usually isn't the best thing to Many times people writing their own will make the mistake of leaving out main BOUNTIFUL attorney and former City Judge B. Hammond told the Senior Citizens Group recently some important points on making Hammond says that in England the attorneys have a tradition of toasting to person who makes out his own The toast is made with tongue-in-cheek as attorneys usually make much more money straightening out the problems of a holograph will that has become effective than writing an original will for YOU CAN purchase printed wills and fill in the points that you want to probate isn't always the best thing to says Trusts can be especially when they are A case where a trust would be a good thing to do would be a case where a couple say three reliable sons most of the estate is in real estate and the trustee agrees to take and hold it upon the remaining sons could sell and share No probate would be necessary and the time element would be COURT COSTS for probate are for the probate Attorneys' fees are from 3 percent to 5 percent for an estate of approximately The larger the estate the lower the percentage fee for the Executors and trustees fees are Jay Jeppson from the Trust Department of Zions National Bank told the senior citizens that avoiding taxes is the major assignment in trust He certainly isn't illegal to avoid paying more taxes than HE Federal Government is like an older brother who 1 am gonna soak you but I'm more than happy to let you try to figure a way out of He says you should have a will whether it is used or for several First have the of selecting an executor or executrix- If you the court may appoint one and may not be the person you would have thought to do the job IF YOU fail to make a will the State Legislature has made one for The terms of law provide the surviving spouse will receive remainder property and a certain percentage will go to the children or Joint tenancy can sometimes work nicely in avoiding but there are certain problems involved with it For your joint tenants may pro-decease you or die shortly after then there are no SOLE proprietorship can cause great When a Handwritten wills are legal in this but often can lead to a lot of Attorneys make more money M untangling contested wills than they do preparing A original m person has the major part ol his estate in a business that he alone knows the intricacies the estate can lose its value quickly when that person Jeppson now I am involved in trying to run a silver mine in southern A person with a proprietorship business should provide in his will exactly provisions concerning what should be done with the business to insure its JEPPSON says that a law that was written in 1913 is causing to go from Utah to Washington This law provides that an estate valued over shall be subject to inheritance In 1913 estates were small and was a generous exempt even though the usable dollars may not be the average estate is worth SI JEPPSON SAYS he feels this law is unfair and should be There are ways get around this If your estate is you should beat path to your attorney's to devise an program to minimize the All property is subject this even your ring that you wanted to will to your niece Insurance are subject to Federal tance Utah does not sub-i insurance policies to but does tax joint JEPPSON says he feels a living trust can valuable It should not beX made If you have a trust established you can deposit assets to it and watch it If you counsel with trustee and make sure hem knows what you if you m take a long trip he will take s care of it for Bonds and-iM dividends will be deposited your account If a disability should such as an it is an advantage have an estate already in anI administrative capacity |