The Independent-News, Volume 94, Number 45, Walkerton, St. Joseph County, 3 April 1969 — Page 11

KNOW YOUR INDIANA LAW By Junn J. Dillon Attorney at Law (This is i public service article explaining in .cncial trims a pu>vision (X In-li. Il i law. inuiluah who wish b> determine the effect of any law up in their private legal affairs should consult a private attorney. > GUARDIANSHIPS Where an individual is incapable of managing his own affairs, the couits may, upen proper applicatn n, appoint a guardian to take charge of the ward’s person or estate. Once appointed the guardian his plenary power to act in the pl ice of his ward in almost every way. fie can collect money, pay bills, even make out the tax returns for his ward. Such guardian is bonded by the coir, t and required to die accurate accounting relating to his service as uardi in. He may only do such acts as are authorized by the court. When the guardian-hip is terminated, either by death of the ward, or because the ward nowcan take care of his or her own at.airs, the gumuian niu.-t then file a find account, and on approval b\ tin- court, turn the assets over to the person entitled to the same. The most common need fur a guardkinship is when, due to old age or Infirmities. one can no longer transact ordinary business affairs. No approbation is attached to a person having a guardian because us old age and many people who are unable to handle their affairs should look favorably on having u guardian manage their affairs. As a matter of fact, in this manner many estates are pieserwd from charlatans who prey upcm older people. Guardians are also appointed for minors, the mentally ill. and habitual drunkards. To be under a guardianship does nut mean the ward is ins me. and carries no legal stigma. Many times a "power of attorney” is vised hi dead of a court appointed gu rlianship. I'll wiite later about "p »wers of attorney’’ but. su.flcr to i\, like d.Mhunite they should be h m .!< 1 very carefully. A guardianship is therefore a very u eful legal method of managing a person's estate. If you feel Some of your -family could benefit from a guardianship, contact your attorney for more exYou feel \ H a little edgy 3 or maybe cross. Sooner or later, that day comes, the day when a woman feels she s chang ing. It's not a good feeling either. And she could use a good old-fashioned medicine then. You might even have what we call hot flashes and feel sad and slightly off balance. Whatever you feel, we have something for the day you need a little comforting. Lydia E. Pinkham Tablets. They’re made with gentle, natural ingredientsthat work to help you feel better. When you start changing, you could use a good old fashioned medicine for an oldfashioned problem. And. you don't run any chance of the kind of unpleasant side effects you can get from some of the newer drugs. Lydia E. Pinkham Tablet* end Liquid Compound For free booklet, write Dept.ML, Pakkam Medici** C». . Lym, Mai*. 01 MM J

plicit advice. INDIANA INHERITANCE TAX There .o a c“mmnn saying that, "only two things in life are certain, Death and Taxes." Unfortunately. this is not only true, but in addition, the happening of the -former generally triggers the ociurience o” the latter, that is, death is the cause still an additional tax being imposed, generally called an Inheritance Tax. 1 he State of Indiana taxes the tri nsfer of property occasioned by death. The tax is actually imposed on the person who receives the property, and the rate of tax depends upon the relationship of the heir to the decedent. Thus for a widow or child, the maximum rate of tax up to a $200,000.00 inheritance is 3 f {. Property of the same value wili< d to a non-relative would have a maximum tax of 10';. In addition, a surviving spouse, for example, receives the first 515.000.U0 <>f her inheritance tax free. The non-relative heir pays tux on everv thing he receives in cxce; s o' SIOO.OO. Requests to a charity, or to n educational oi . eligmu- organization. are n>t subject to the t'X. One may .also make gifts duiing his liftime or create an it revocable trust Would avoid the inheritance t x. However, gift made or trusts created two years of death are still taxed at the time of the donor's death, unless it can be shown that such transfer was not made in contemplation o f death. Indiana does not tax Insurance proceeds paid directly to beneficiaries, nor does It tax real estate owned by a husband and wife jointly when the first spouse dies. Every person who owns property should anticipate that there will be some tax problems on hi■; death. Your attorney can be of much help in advising on the best wav tn avoid death taxes or to make sure such taxes are kept at a minimum in your estate. If vou do not have an

NIPSCO OFFICES WILL BE CLOSED GOOD FRIDAY, APRIL 4 th

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attorney, contact your local bar association to be re "erred to one. As I have said before, a good estate plan is the best investment a person can make in legal services. TAX CREDITS FOK GUTS TO INDI INA COLLEGES In 1967, the Indiana Legislature passed a bill which gives Indiana tax payers a tax credit for contributions to Indiana cob leges and universities. This credit is to be applied to your Indiana income tax. The law allows a credit in ar. amount equal to fifty percent of ell contributions you have made to Indiana colleges and universities during the taxable year. It should be noted that this is a tax credit rather than a tax deduction. A deduction would allow you to reduce your taxable income by a certain amount before computing your tax. and a twentyfive dollar deduction would result in lowering your taxes by only two percent oi that amount, or fifty cents. A credit of twenty-five dollars, in c- mrast, is subtracted 'urn the tax you otherwise owe, and would Uctually reduce the amount -f tax you owe by twenty-five dollar. However, you as an individual, are nd permitted to claim a creiit larger than twenty percent of your t tai In li mu income tax, <>c fifty dollars, whichever is less, in most cases, -iffy dollarwill be the limit. Only a taxpaye with a taxable income of more than $12,500.00 per year after all deduction - need be concerned about the twenty percent limit. A corporation is not permitted to claim a credit larger than five percent us its total Indiana income tax. or five hundred dollars, whichever is less. If you desire to obtain the credit, you should claim it on you annual Indiana income tax return. The booklet containing your tax return will also contain a schedule and instructions for claiming the credit. Those tax payers who itemize their personal deductions on

APRIL 3, 1960

their Indiana income tax return, rather than take the standard deduction, are, of course, entitled to the normal deduction for contributions us this type on their federal return. This deduction provided by the federal government and the tax credit provided by the State of Indiana add up to a substantial tax saving for the contributor to Indiana colleges ।nd universities. The net result of all <4 this i . that the average Indiana taxITCHING - LIKE MAD? Get this doctor's formula! Zemo speedily stops torment of externally caused itching... of eczema, minor skin irritations, nonpoisonous insect bites Desensitize; nerve endings Kills million,; t surface germs. "De-itch" ^kin with Zemo—Liquid or Ointment.

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Good Friday is a holiday for all Nipsco employes. Our commercial offices will be closed on this day. Depository vaults are available for your convenience.* We wish you a * HAPPY EASTER HOLIDAY

— THE INDEPENDENT-NEWS -

payer can make a $lO6 contrlbu tion to an Indiana college of hh choice for less than $20.00. As a trustee of M irian College in Indlanupolls, I can tell you that this type of contribution Is the hope vs th- -mall private college in this state. I Specializing in Permanent Waving Hair Shaping, Coloring A Styling Dede’s Beauty Salon Phone 5X6-3614 Operators: DEDE I EJES TERRY STILL CAKOIAN TIEDE 908 Roosevelt Road Walkerton. Indiana

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