—) Vinillaries to Murphy’s Law (you ember Murphy, he said, “anything wrong, will’’) goes g tcan go like this: “Everyone has a something as jmeme for getting rich that will not Inthese times when it costs 20 s to borrow a dollar at the time utsame dollar is depreciating by 14 isa year, another corollary could be, ‘a penny saved apenny Icst’’ — that Sunless you’ve been doing some ‘Conrad Teitell, a nationally known sr, lecturer, and authority on 3 ) Sate planning, who recently nducted a seminar in Ogden, has me interesting estate planning ivice. On the subject of life insurance sstates that insurance payments Vieeived by a beneficiary are not taxed gincome, but they are subject to sate taxes. That is, the money from minsurance policy may be included in ( ‘jor taxable estate. Unless there is , | ope planning, a large insurance of lilly could increase rather than tax liability of the the estate } || a . |} omne of the policy. That means your | gpouse gets less. One way to avoid = | tisis ue al ee Se tae on. women is one of the big ones in copy should be in your home - in a safe place - easy to find. A spouse may be named as executor of a will. However, if the estate is of sizeable proportion, a bank, a financial advisor, or an attorney may r also be named as a co-executoto assist in managing the estate assets. According to Teitell, there are a number of new ways to make gifts of money or property. Under the Tax Reform Act of 1976, Congress revised world history, Dr. Neila Seshachari, associate professor of English at WSC, asserted in a noon “Brown Bagger” lecture for students and faculty. Bloodless and undramatic compared with most other revolutions, it still is trying to change the pattern of life from patriarchy to a workable mid-point between that and matriarchy, she said. The final goal is something like a cooperative equilibrium. One of the special problems in this “great social revolution which is coming whether you like it or not,”’ is that most women love the some of the law written in 1969. There was no change in the annual gift allowance. It is still possible for one source—man—from which she wants to become liberated and she can’t rebel in the traditional fashion. Stereotypes of what the women’s role should be are the big predicament faced by modern women and they should be attacked with patience and common sense, she said. person to give $3,000 each year (or $6,000 from both spouses) to as many people as you wish. They do not have to be family members to be recipients. The previous lifetime gift allowance of $30,000 per person was eliminated as was the $60,000 estate tax exemption. These were replaced by the unified tax credit. Basically this states that credits taken for gift taxes reduce the amount of credits available for use against the estate tax. That is, the unified credit of $47,000 offsets any The dilemma of women today is being caught between two worlds—the worlds of work and of the home—she said. “a ee Da Ree a0ey soperce ’ above $5 million, is a problem few of elementary and secondary schools, Dr. Blaine Parkinson, dean of the Weber State College School of Education, said. The four were Joseph Daniel Parera, group leader and secretary of the department of languages at the teacher training college (IKP) in Jakarta; Endi Nurgana, lecturer in the department of mathematics at IKP Bandung; Sunaryo, lecturer and assistant dean of the faculty of social science and education at IKP Malang, and Ahmad Badawi, lecturer in psychology, counseling and education at IKP Yogyakarta. Dean Parkinson said their was in central interest competency-based teacher education. While at WSC they studied and served as adjunct faculty in the handling of CBTE modules. Each will develop a CBTE module of his own which may be used on his return to Indonesia. Dean Parkinson was involved as one of the planners of the enterprise following an extended visit last year to Indonesia. He Weber ment of o,e called the . involve . State a significant recognition. A grant of $84,262 has been us will have. Another aspect is the transf mom th usually the 7 “nership to someone else, 4; | "gouse. If the transfer is made at least es before death, the proceeds , ifthe policy won't be included as part of up to Ss pro use ma) of the saijusted $250,000, pe tif : : gross estate, whichever is greater, to the other spouse - before taxes are imposed. Mott Foundation to conti aa community . Ogden City and Weber County calendar year. during the 1981 coordina tes and Weber State shares in the program with the Ce for | my be a present value gift tax, butthe it z | tetainly will be much lower than late tax at the time of the death. recommend they be made —State College) to significantly lower individual tax liability and to aid and Ogden City, utilizing neighborhood citizen councils interested in improving local reamee State Universes sc Oe Forensics Sa —Teitell also advises the use of | VW itthe estate. If a policy having a large tJ ashvalue is given to a spouse, there _ charitable gifts (in this caseto weWeber On the subject of wills, Conrad husband and Tétell advises that botha current will, wile should each have ‘pecially when there are young diildren in the family. Single persons | should also have a will so that "property will go to intended wneficiaries and not be decided by the y. A will of intestac _} t"Sate through laws ; . total the with ated coordin | - should be effort to include life slate planning , jointly held property, “insurance “employee retirement benefits, social security and needed trusts. Any “tharitable or tax free personal gifts | wuld be established at the same time. Holographic (completely handwritten) wills are valid in the state of Utah. However, a word as * simple as a misplaced “‘and”’ or Sor. sls," chnen y Perc “toemploy the services of an attorney ‘to draw a will. The relatively small fee nvolved could save hundreds or even thousands of dollars due to Murphy's ‘law mistakes made by an erring ‘quthor. Finally, keep a current copy of your will where it can be found ‘quickly. The original may be left in a 7 safe deposit box or with your attorney } orin some other secure place, but one ep oe Galttcehl worthwhile institutions. In many government and school operations. the weekend in Los Angeles. may be established which will provide year effort to improve grass-roots participation in local government. Senior Rick Starnes placed the team by winning first in oratory, second in oral interpretation of The grant is the third in a five income to the donor, reduce or eliminate income and estate taxes and Over the five year span, the Mott Foundation plans to contribute eliminate capital gains tax on appreciated property. In certain cases, approximately $580,000, with contributions from the «ttt participating units expected to bring the total amount in five income to the donor from a charitable trust could be greater than that which was received before the property was the turst. placed inemphasi zes Teitell years to about $1.2 million. that there are us many other rules, regulations and changes that may affect your estate planning. Every individual should consult his or her own advisor as to how the law applies in each particular Ethics is an important aspect in building any business, Edward M. Jenkins, president, Christensen Diamond: Products Co. of 4 Salt case. You may even find a way to get sat ap emi ees atts Teas with proper tte tins of Marts | cna Law on your estate plan may be sharply reduced or even eliminated. You may lower your taxes, ease inflation’s burden upon you and your heirs, pass more of your assets to your ae told WSC business enim atts an be especially important in difficult times like the present. Put in simple terms, he said business ethics amounts to not lying to anyone, including employees, customers, competitors or associates. spouse and children, and even help provide better educational opportunities through a charitable gift to higher education at Weber State College by acting today to prepare for the future. pe us = . debate The Weber State College placing team, riding highthern afterUtah ae first at wee 7 ies al a week ago, ne o ee Diecien abel Welce eciioal districts <2.) One Pls gravid Nias eo _gituations, a unitrust or annunity trust 'y | “a received from the Charles Stewart change in the marital deduetion. A vray Four Indonesian educators visited the WSC campus for a seven week stay as part of their national government’s effort to improve education in its a The movement to “‘emancipate”’ Sixth in a series on Estate Planning by Peter Maughan, WSC Development Officer 4 (ne of the hundreds of interesting Campus Clips 9 eee et Murphy's law and the s! laws of estate planning ees | | | enenset the a6 literature, and third in duo interpretation of literature with partner Tom Cowan. : _ Sophomore Bill McGaha was a ptu speaking, finalist in improm his first attempt in that event. a | . Three WSC debaters were recognized for being among the top 10 speakers in the championship division of debate. Sophomore Jill Niederhauser was ranked fifth, sophomore David Allen seventh, and freshman Wayne Alldredge tenth in the top nd Na "Arg placed third in championship division debate, while Allen and partner Steve Wimmer place fourth. Freshman Jackie Gardner and Karen McCracken, competing in their third college tournament, placed fourth in novice debate. |