Ritchey scholarship fund by Peter Maughan, WSC Tons 7 Se In the Middle Ages one of the ae EDR s Secs a a BN OS SL will be appointed for minors and must answer to the court. High costs to give them the privilege of passing to his heirs the property and rights and taxes may further drain your he had accumulated. All title was assumed to be vested in the king. And when a subject died, the king = ae estate. Perhaps you already have a will. When was it written? Did you make it in one state and then move to could give the property to whomever he chose, unless he granted the _ another? Did you name an executor who is no longer alive, nearby or subject the privilege of naming his own beneficiary. trusted? Are your beneficiaries still alive? The notion to make or check Today we take as a matter of course the fact that we have the right to leave our property to your will is the first step in better estate planning. Then your will should be reviewed every three to whomever we choose. The opportunity presented by this four years or whenever there are significant changes in your way of life. The next step is to gather or privilege is often neglected. You may not be aware that your estate is everything you accumulate before you die — money, stocks, bonds insurance, cars, furniture, homes, jewelry, etc. Estate planning is simply setting up a plan for the creation, accumulation, conservation and distribution of your possessions so they will do the most for you and your family. Planning your estate should be done by you -- not some _ inexperienced or uninformed survivor. A good estate plan is a bridge that takes you and your heirs safely over all sorts of dangerous and costly pitfalls . . . such as long-term disability that may prove to be forced retirement, or lack of cash in the estate which may require forced liquidation. And forced liquidation to get money to pay settlement expenses, debts, taxes, and fees can often mean the removal of the heart of your estate. An estate plan is not a will, though a will may be the foundation of your estate planning. It is not a mechanism to avoid taxes. It is not a tool to avoid probate costs... though it can save paying unnecessary taxes and avoid some probate expenses. ee Te Seven out of every eight adults die hae eee nv ir : (2) Properties (cash, insurance, real estate, stocks, bonds, home, etc.) (3) Plans (What are your goals? Self-support now and in old age?) (4) Planners (your professional - HE ee SS 0 iy Sy aera oo sys lemeasy i oS ere cAita Tag ei ptt Aes) ee ey ies degree in physical chemistry in 1936. He added a doctorate in physical chem:stry in 1938. He holds honorary doctorate speakers. Mr. Hurst said the additional money will help provide honorariums for these as well as to degrees from WSC, Purdue and Utah State University. He has held’ membership in many professional societies and has received numerous awards. He was elected chairman of the board and chief executive officer of supplement those available locally. Mr. Hurst said income form the Thiokol Corp. in 1970. He had said. The gift came after meetings involving Dr. Ritchey, Dr. Rodney H. Brady, WSC president, and Mr. Hurst. Mr. Ritchey recalled his own efforts to work his way through © become president and member of the board of directors of the corporation in 1958. Born and reared near Kokomo, Ind., he is married to the former Helen Hively and they have two sons. adequately for your children. If you are interested in the personal benefits that come from protecting your present and future earnings through estate planning, or.would like further information on College, please complete the The Development Office 1011 Weber State College Ogden, Utah 84408 or call (801) 626-6568 Please send me your booklet on: Estate Planning - A Blueprint Charitable Unitrusts I would like additional information on the advantages of estate planning, or contributions to Weber State College. Phone ( ) STATE _The years you attended Weber: 19 The years your spouse attended Weber: ZIP 19 a 1934, he received a bachelor of science degree in i chemical engineering and a master of science now is a good time to consider making one. If you wait it could be too late — too late to take advantage of many tax-saving opportunities; too late to take a few simple steps to reduce probate costs; too late, perhaps, even to provide | to Dr. Ritchey was educated at Purdue and Cornell Universities. In your certified public accountant.) If you do not have an estate plan, | i | | | | | | l | | | i benefit to the recipient. advisors: your attorney, your trust r NAME ADDRESS CITY level for the donor and with full officer, your life insurance agent, following information and mail to: | Mr. Hurst said the approach Dr. | Ritchey used in presenting appreciated stock is an excellent method of giving to a charitable institution at the most economical — Dean W. Hurst, WSC vice bequest will not become available at once since it needs time to accrue interest. Its benefits probably will not be apparent until next year, he spouse, son, daughter, others) scheduled to present one of the lectures this year. president for college relations, said the bulk of income from the fund will be used to provide scholarships in the physical sciences. Interest provided by $5,000 of the bequest will be used to support the Sigma Xi lecture series. Sigma Xi, science research society, has for some time sponsored a monthly noon lecture open to the public and using principally local plan might follow the ‘‘4 P’s” approach. These are: (1) Persons (those for whom you Dr. Ritchey is a frequent attender of Sigma Xi lectures and is himself ” Helen H. Ritchey Physical Science Scholarship and Lecture Fund at the college. bring in off-campus speakers to are responsible — yourself, school as one of the stronger motivating forces behind the gift. Corp. executive, for the establishment of the Harold W. and need in order to start the estate planning processes and work to a conclusion to develop your estate have a will; and of those who have a will, eight out of ten provide for divide your property according to state law. Your spouse may have to share your estate with relatives. a _ making a gift to Weber State terms, “‘intestate’’) a court will CT review the facts. The facts you will without a will; less than 50 percent of those with estates over $60,000 outright distribution of the estate. If you die without a will (in legal k ae Your children will share equally, regardless of need, and a guardian greatest gifts which a king could bestow upon one of his subjects was An endowment of about $30,000 in stock has been received by Weber State College from Dr. Harold W. Ritchey, retired Thiokol Chemical ae a rg as Development Officer (Fifth in a series on Estate Planning) Jim Sabin, left, manager of the Ogden plant, Bertea Control | Systems Division, presented A. Kent Randall, dean of the School of Technology, center, a check for $2,400 to be used for four $600 scholarships for capable persons waiting to become machinists. Student, Stephen Mark Lucus, explains his program. Bertea, which is a manufacturer of hydraulic systems for ait” craft, is one of the new companies which has moved into the Ogden area because its administrators felt that the local work — force contained many who could be trained to do the kind of — precision work needed. Because of the strong demand for skilled help, Bertea in— cooperation with some other companies decided to work with WSC to get capable people trained. The scholarship prograii now in its second year, is part of that effort, Dean Randall said. ia? ings hg Se othe AS Seti Where there is a will...