Newspaper Page Text
PAGE 6A
FORSYTH COUNTY NEWS Sunday, August 26,2001
How to keep the
peace between
all of your heirs
By John Weaver
For the Forsyth County News
A couple of years ago,
AARP released a study that
found that one in five people
receiving an inheritance bat
tled over it with other family
members. The worst fighters
ivere baby boomers age 50 to
'53, with a third of them
' reporting squabbles. It doesn’t
have to be that way, if the per
son passing on the inheritance
follows a few sensible ideas.
Plan. Don’t just leave
' everything to your heirs in a
, pile and let them sort it out.
‘ That’s how fight start, and it
won’t endear you to their
* memory. Organize your finan
' cial records to make it easier
< for your heirs to sort out your
■ estate. Put an estate plan in
> place with an up-to-date will,
’ trusts if necessary, life insur
ance, probate avoiders and
’ other strategies. This not only
• can minimize the estate tax
’bite, it will ensure that your
.estate goes to those whom you
.want to receive it. For exam
ple, you might want to use a
;trust to ensure that part of
•your estate goes to your chil
dren from a previous mar
riage.
, Don’t be secretive. Pro
bably nothing breeds more
janimosity not only among
heirs but between heirs and
jheir benefactor than keep
ing an estate plan secret. After
you’ve drawn up a plan, con
sider talking it over with your
heirs. Explain to them why
you’ve made certain decisions.
Listen to their feedback. You
|nay want to make adjust
ments before executing the
Business notes
As part of its campaign to
educate Georgians about the
importance and indicators of
quality child care, the
Georgia Child Care Council
Has announced the call for
nominations for its 2001
“Georgia Child Care
Professional of the Year”
awards.
J From the pool of nomi
nees, the statewide recognition
program will honor three of
the state’s best and most quali
fied child care professionals
and will recognize one
Georgia business dedicated to
assisting employees with child
LIFETIME OF INCONTINENCE
CURED IN 20 MINUTES.”
Join us for an evening 0n...
WOMEN’S HEALTH TALK
Dr. John Miklos (voted one of Atlanta’s top
*• physicians in Atlanta Magazine in 2001) was the
first Doctor in the southeast to perform the
■L innovative TVT Sling Procedure.
• Outpatient surgery
• Simple 20 minute procedure
• 90% Cure Rate
• Local Anesthesia
Your lifestyle can have a major impact on your bladder health,
whether you’re a student, young professional or mature woman.
Come and meet Dr. Miklos for an informative talk and a chance to ask
questions. Dr. Miklos specializes in women’s bladder problems and
will discuss steps you can take to end a life long problem.
Where: Marriott on Windward Parkway
When: September 13, 2001 6:00-7:30
Hors d'oeuvres and beverages will be served.
This event is free, but registration is requested.
Please call (770) 475-4499
John R. Miklos, md
u FACOG FACS FICS
The Doctors Choice For Women’s Health Care
I
WWW.U ROGYN ECOLOGYCHAN N E L.COM
. WWW.TVTSLING.COM
BUSIN ESS, & INDUSTRY
documents.
This can be a good time to
talk about who gets or wants
certain heirlooms or memora
bilia. One of the biggest bat
tles among heirs is over these
items, according to the AARP
survey. Write these decisions
out in a letter of instruction
that accompanies the will,
explaining who should receive
particular items.
Be equitable, not equal.
Splitting up your estate evenly
often is the worst thing to do,
especially if it involves undi
vidable property such as a
family business, the family
farm or the family’s second
home. It’s better to be equi
table or fair, but not equal.
Take a family business, for
example. It’s hard enough to
keep a family business going
into a second generation with
out the added burden of split
ting it equally among multiple
heirs. Some of them may not
want to be involved in the
business, may not be qualified
to run it or will battle each
other for control. Usually it’s
better to designate one heir to
succeed as owner (preferably
someone you’ve groomed)
and compensate the other
heirs with insurance proceeds,
other liquid assets such as non
company stock or even with
nonvoting stock in the busi
ness itself.
The same principle apples
to a family’s second home,
where heirs may squabble
over its management and use.
Passing the home on to one
heir, but providing equitable
compensation to the others,
may alleviate any friction.
Even if easily divided
care needs. Qualified care
givers, child care administra
tors and businesses statewide
are eligible.
Parents and other commu
nity members are invited to
nominate a caregiver, program
administrator or business by
completing an official nomi
nation form, which can be
obtained at any Georgia Sonic
location, by calling the toll
free Georgia Child Care
Council hotline, (888) 4GA
CHILD, ext. 262 or by access
ing the council’s Web site at
www.gachildcare.org. The
council will accept nomina-
Market in brief stocks of local interest
At Sign Stock Last Change
S - Aug. 24, 2001 ATG AGL Resources 22.81 -0.02
' 2 J -X BLS BellSouth Corp. 37.94 +0.07 ;
CCE Coca-Cola Enterprises 15.40 +0.54
, DELL Dell Computer 23.09 +1.26
** • DAL Delta Air Lines 40.90 +1.89 !
® Ford Motor Company 20.39 +0.31
7 \ GM General Motors 56.99 +0.78
HD Home Depot 49.94 +1.95
■ INTC Intel Corp. 29.14 +1.47 |
KO Coca-Cola Company 49.21 -0.24
&&PSOO +22 83 MCD McDonalds Cor P- 3049 -0-35
*$>?.»UW r *■ w H * MSFT Microsoft 62.09 +2.98
RTf'” M PEP PepsiCo Inc. 47.10 -0.15 I
Volume: ‘ RGBK Regions Financial 30.82 -0.42
1,184:92 SFA Scientific Atlanta 21.11 +1.21
Southern Company 23.16
STI Sun Trust Banks 71.35 -0.46
*"i T AT&T 19.51 +0.33
TSN Tyson Foods 10.21 +0.02 I
NASDAQ +73 73 VRSN Verisign 4701 +3Ol
WM T Wa ]_Mart Stores Inc. 50.95 +1.21
- ■■ '•
210 Dahlonega St,
Ch^; - 22 - 42 f flßoN- “a™
H, * ‘Ul'*’ * Jonnweaver
■ (678)455-0016
■ ■ SECURITIES *
’ • , ■ ; >r . OtfiAL
financial assets such as stock
make up the estate, a parent
may want to pass on the estate
unequally. Perhaps a child is
disabled and will need lifetime
care, or one child is already
wealth while the other is
working hard but in a lower
paying job. Perhaps one child
spent a lot of time caring for
an ill parent and deserves
extra. Explaining what you
intend to do and why in these
situation will likely make it
easier for all to accept.
Don’t disinherit. It’s not
uncommon for parents and
children to feud to the point
that a parent cuts a child out
of an inheritance. Or they may
worry that the that the adult
tions through Sept. 15. All
nominations postmarked by
that date will be eligible for
consideration. Winners will be
notified by Oct. 19.
The University of
Georgia Business Outreach
Services/Small Business
Development Center will
sponsor a seminar on starting
a business on Wednesday,
Aug. 29, from 6-8 p.m., at the
center, 604 Washington St.
NW, Building B, Suite 2,
Gainesville. Cost is S4O or
$35 if preregistered. For infor
mation and to register, call
child won’t be able to handle
an inheritance due to a drug or
drinking problem, or a waste
ful habit with money. Such
concerns often can be over
come with the use of trusts
stipulating at what age the
child receives the money, or
under what conditions, such as
graduating from college.
Simply cutting them out of a
will can provoke ill feeling not
only toward you but toward
those who inherited.
Understand the psychology
of inheritance. As strange as it
may sound, not everyone is
comfortable receiving an
inheritance, especially a large
one. Heirs not well prepared
for an inheritance may experi-
Betty Williams at (770) 531-
5681.
The Service Corps of
Retired Executives and the
U.S. Small Business
Administration will sponsor a
seminar on “How to Start a
New Business Profitably” on
Wednesday, Aug. 22, from 9
B
INTERIORS )
invites you to visit our award winning decorator showcase home
|| Home Expo 2ooi
located in the beautiful John Weiland subdivision M
Woodmont Golf & Country Club-Canton, GA
Saturday, August 18th thru Sunday, September 16th j|
HOURS " &
HI Sat 10-7 • Sun 12-7 • Mon Closed • Tues Fri 12-7
For info call 770-995-0877 r
Auatton: |
shm r-'x . C • During fht show you may put ■
HI Urapenes * nimiture A in your bid for many of the I;; "
v\/7 ]i . I furniture and occessory items |
B *
H&R Block Tax Course Begins September 10
Thousands of people are learning the skill of
income tax preparation from H&R Block.
H&R Block, the nation’s largest tax firm, is
offering an income tax course starting
September 10, with flexible morning,
afternoon, and evening classes available.
Classes will be offered at area locations.
During the 11-week course, in addition to
learning the nuts and bolts of tax preparation,
you will receive dear explanations of the
ever-changing tax laws ana how to use them
to your advantage.
You'll receive this information from some of
the finest, most experienced tax preparation
instructors in the country. The course covers
everything from completing a basic 1040 to
returns with multiple schedules. They’ll give
you the confidence to handle even the most
complex tax situations.
H&R Block designed this course to suit people
who want to increase their tax knowledge
and save money on taxes, or who are looking
for training for a second career or seasonal
ence a sense of guilt because
they didn’t “earn” the money
or are anxious about how to
manage the inheritance. That
can cause tension among mul
tiple heirs. Again, discussing
the inheritance in advance will
help. Linking them up with
professional advice also can
help ease their discomfort.
John Weaver is a senior
vice president/investment offi
cer with the investment firm
First Union Securities in
Cumming. For more informa
tion, please call him at (678)
455-0016 First Union
Securities Inc. Member New
York Stock Exchange and
SI PC; 1999 First Union
Securities.
a.m. to 3:45 p.m. in Suite 140,
270 Peachtree St., Atlanta.
Cost is S4O at the door, $35 if
preregistered. For information
and registration, call (404)
331-0121.
SCORE will also sponsor:
See NOTES, Page 7A
employment. A tax-related career is perfect
for students or retirees seeking part-time
earnings.
Qualified students may be offered job
interviews for positions with H&R Block.*
Find out about flexible course times and
convenient locations in your area and enroll
today. Registration forms and a brochure for
the income tax course may be obtained by
contacting H&R Block.
For more information, call 1-800-HRBLOCK,
visit www.hrblock.com or contact your
local office.
530 Laka Caniar Pkwy B-2
Cumming. GA 30040
TMaphone: 770487-1660 Fax: 770-701-2830)
I MR BLOCK
©2OOI HAR Block Tax SerrioK Inc. •InnUaoot in. or anpWUc < U»
couna U notihor an oifcr nor a (uarantaa of amptagraaont. AA BSOM/MW
Tech
forum
set for
Oct. 29
At this year’s Georgia
Technology Forum, the antici
pated I,ooo+ attendees will be
“seen and heard” at the
Investment Showcase exhibi
tion hall the core of the
most exclusive and most
respected gathering of technol
ogy professionals in the south
east.
This annual conference,
hosted by the Technology
Association of Georgia is
scheduled for Oct. 29-31 at the
Cobb Galleria Centre.
The Investment Showcase
will feature 200 of the region’s
top technology companies
large and small, private and
public, many raising invest
ment capital and others not.
These companies will repre
sent a wide range of industry
types, from wireless and hard
ware to web development and
software companies. A com
plete list of all companies par
ticipating in the Investment
Showcase is available via the
‘Exhibitors Directory’ link of
www.gtfonline.org.
“Despite the changes our
industry has faced since last
year’s GTF, we are expecting
an overwhelming level of par
ticipation from our region’s top
technology professionals,” says
GTF co-chair Kelly Gay, presi
dent and CEO of Know
ledge Storm.
“Each year the Investment
Showcase is reserved for the
industry’s ‘best of breed’ and
this year will be no different
with the exhibitors at the fore
front.”
MostChoice.com President
and CEO Marty Fleishmann,
an 2000 Investment Showcase
exhibitor explained that
gained wide
exposure to the investment
community as an exhibitor at
the 2000 GTF, and we had the
chance to meet face-to-face
with numerous potential part
ners and investors.”
Investment Showcase
See FORUM, Page 7A