Newspaper Page Text
— Griffin Daily News Wednesday, December 1,1976
Page 20
Professor urges family assets planning
ATLANTA—With today's
lower purchasing power and
higher prices, the average
family may wonder how to
hold onto the financial assets
it has—not to mention in
crease their value.
That’s the big question.
The answer, according to Dr.
Fred Tillman, Georgia State
University business law
professor, is financial
planning As director of a
workshop on estate and
financial planning that will
be held at GSU, Tillman
explained that there is a
common misconception that
estate planning is primarily
for the very old or the very
rich.
"Certainly people are
reluctant to plan estates for
many reasons," he com
mented. “Perhaps they
believe that their estates are
too small to require plan
ning, or that they don’t want
to pay the costs, or that the
thought of estate planning is
morbid and it is easier not to
think about such things.
Perhaps the individual
believes he or she is being
pushed into planning by his
or her banker, lawyer, in
surance man, or trust of
ficer.”
However, Tillman stressed
that estate planning includes
more than figuring out how
your survivors will benefit
from your death. Financial
Secrets
SACRAMENTO—CLA Director
George Bush, refusing to
discuss disclosures on the
recovery of an entire sunken
Soviet submarine, calls for
legislation to prevent
revelations of CIA secrets
during an address at the
Comstock Club. (UPI)
Pike schools
praised by
official
The Pike County School
System received high praise
from the State Department of
Education following an
evaluation by Alfonso Owens,
area consultant, of the system's
Title I program.
In a letter to the school
system Owens stated, “Visiting
your Title I activities was an
enjoyable experience. Each
time I visit your system's Title I
activities, there is an awareness
of continued upgrading and
improvement. I would like to
commend you and the system
staff for the very fine way in
which the Title I activities are
being conducted."
The Title I program is a
federally funded program
which provides five classes of
kindergarten and support
services. The project also
provides for two reading
specialists in the primary and
elementary schools, ad
ditionally, a tutorial service is
provided in reading for the
children of the Georgia Baptist
Children's Home.
Information about the Title I
program is available at the
office of the superintendent of
Pike County schools or from
any member of the Title I
Advisory Council.
rq AWNBYANB
□□TAX TIPS
TAX REFUNDS
IN DECEMBER?
With the new tax return forms
delayed until January, tax
payers with refunds coming,
who wish to file immediately
after New Year s, are going to
have to wait, according to the
Georgia CPA Society One way
to get some of your money
back sooner is not to send it in
by decreasing withholding on
your final paychecks of 1976
Your employer or accountant
can explain the permissible
methods of decreasing the
amount w ithheld
planning, he said, is really
living planning, en
compassing retirement
programs, and ways to build
up the estate as well as
dispose of it.
Portfolio management,
explained Tillman, is one of
the tools a family may use to
increase the value of the
estate. The term means
planning the right com-
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... y,,.., STORE PHONE 228 5590 — AUTOMOTIVE PHONE 227,51 11
bination of the many ways
available for investing one’s
total assets in order to get
maximum benefits, both
legal and financial.
Tillman outlined some
falacies that may mislead
those who are trying to plan
their estates. "Many people
would be surprised to find
that the value of the assets
which would be included in
their estates is sufficient to
create taxable estates. With
increased asset value due to
persistent inflation and
increased salaries and
wages due to our affluent
society, the federal estate
tax exemptions and credits
are often less than the face
amount of personal in
surance. . .’’
And that’s only the
beginning. Add equity in a
home, a saving account and
so on, and “a substantial
estate tax problem might be
present,” he stated.
“Another common
misconception is that
property held in joint name
with right of survivorship
will not be included in the
taxable estate. Just the
opposite is true.”
Happy Birthday!
Artie Lesser
Artie Lesser, six, son of Mr.
and Mrs. Arthur F. Lesser, in,
celebrated his sixth birthday at
his home.
The honoree and guests en
joyed cake and opened presents
and then went to see the movie,
"Peter Pan.”
Those attending were: Mandy
Tidwell, Edie Evans, Becky
Floyd, Jason Gordon and the
honoree.
Griffin's
One and Only
’’Full Service”
CB Specialty Shop
MEYER’S
COMMUNICATIONS
Vineyard Village
228-5477