European Stars And Stripes (Newspaper) - August 23, 1987, Darmstadt, Hesse Page 20 the stars and stripes sunday August 23.1987 investor s guide Doyle by Bill Doyle. I am told 1 cd redact the Ila of the taxable estate i will but when 1 die by potting a Larrr do writ of to noddy into urn life insurance. Is this tint a. Yes assuming the insurance policy is set up properly. The proceeds from insurance policies on your life single Premium or any other Lype Are not include Din your estate for Federal estate tax Pur poses pro Viding you Hove no ownership of the policy. This Means you can t have any of the policy s incidents of ownership such As Powers to change the beneficiary surrender or cancel the policy Transfer its ownership revoke an assignment of the policy or obtain a loan against the policy. Summed up in order to accomplish what you have in mind you cannot own the policy or have any control Over it you can arrange things that Way either by naming someone else As owner when you Lake out the policy or by irrevocably assigning the policy s ownership to someone else after the policy is issued. If you have incidents of ownership in the policy at the time you breathe your last the taxing authorities can aim the policy was part of your estate. These rules apply to Federal estate taxes As Well As to the inheritance and or estate taxes of Man states. Because death lax rules vary from stale to state in s impossible to print the regulations for All 50 states Here. You would be Wise to Check your slate s rules. Unless your re going to leave a bundle to someone other than your spouse you should t be concerned about Federal estate lax. A. Husband can leave to his wife everything he owns and & wife can leave to her husband Everyl Hingche owns free from Federal estate tax. Past that you can leave up to$600,000 u other people without any Federal estate tax bite. Q. My whole life insurance policy pays a dividend each year. I have never reported thai dividend on my income tax return. One tax Patpar a advises me i am Correct. Another tax preparer says i ban id report that dividend u taxable tax Are per should 1 be Lieve a. The first one. Thai insurance dividend is not income. It rep resents part of your premiums being returned to you because the insurance company had Good mortality experience -7 mean ing fewer injured people died than the actuarial tables anticipated. Insurance critics contend that such dividends result from premiums being too High in the first place. Do not confuse those dividend with interest on dividends. If you leave the dividends with the insurance company to earn interest. That interest is taxable income. The insurance company is required to Send you and the inter Nal Revenue service a form 1099-int each year listing the amount of interest you Are required to re port on your income lax return rung Fuu a Oahu Mmel Dayta in Conwi Wil a Quitoni. Mil m in Porth Nimri Only Maugh do cum you an my a him in pm of no Sun Itu Batu. To 0 2i. Us Market indexes hit new highs by Ellen Heilich a pm Culnen writer new York. The Stock Market extended in record breaking Advance last week sending the Dow Jones Industrial average through 2700 and other Market indexes to new highs. Trading was Active. 7 he Dow Industrial average set closing highs three times scoring in first close above 2700 monday and ending at a re Cord 2709.50 Friday. The Markel i Only decline a Sharp one of 45.91 Points occurred tues Day when the Dollar went into a sleep slide in what traders ice Rcd a delayed reaction to news that the . Trade Defi Cit bulged to a record is 7 billion in june. The Stock Market continued to slide for most of wednesday but turned higher when the Dollar stabilized on thurs Day a firming Dollar and falling . In Terest Rales spurred renewed buying by foreign and Domestic investors and the Dow soared 40.97 Points to its second record of the week. The Dow which closed above 2600 for the tint time aug. 10 and above 2500 for the first time july 17, had its feat matched by several broader Market indicators. Standard & poor s 500-Stocfcindex Rose 1.99 to 335.90 and the new York Stock Exchange composite Index climbed 0.82 to 187.51. The National association of securities dealers Compo site Index gained 3.58 to 455.19, Stock pulse stocks managed to make narrow gains for the a county service company. Friday Hough the Dollar Slid. Dennis North american Philips climbed lift 10 5j7ji, no Philips said in is offering Isoa share Cash for the 42 percent of North Jarru technical analyst at Kidder pea body a co., said both the Dollar and Oil prices were Likely to rally monday from oversold conditions and that this could encourage More buying in the Stock Market. Though some traders said the absence of Strong follow through buying after thursday s surge was slightly disappoint ing Jarrett noted that a pattern of Strong buying thursday followed by More sub Dued activity before the weekend has been in effect for four consecutive week on the trading floor Philadelphia electric was the most Active nose listed Issue falling i Wilo 21 i. At to followed unchanged at 34v. Ism was third climbing 116 to 1744.among other Blue chips. General motors dropped i a o 92, general electric climbed 11065, Avistar Rose i to 8, american express eased a to 39,Eastman Kodak climbed 3 to 103, coca cola Rose a to him and Sears fell f to 58.philip Morris climbed to i to ii1w. About two thirds of that gain followed news Friday of a Federal court ruling on a liability Issue thai seemed to favor the tobacco companies. In the Oil Patch Exxon Rose in to 99,Mobil eased v to 51 and Chevron Rose to ichw7 Man i Gulf Jiny be cd poom Moil dam bit vol Slock div am govt grift vat to earns be old 7.szs.400 12 3 6i 4-02 2.w0.600 65 5,02 s-0 2j6s.600 174h 2,110,000 15 2.069.900 in 2.0ib.900 a Adt inc. Soared 16v w 51. Hawley group began a $47-a-Jhare takeover bid am Emot by cow cd Clow Camp asm 35 1114 310 494floo 43k 111 240 474.700 17% 09 0-1 i.879.wo Mao to a nil fur no min Power unc bib nose commute la ih1 pm no sex so Mac Dill in 7.j9 4.0 2-5 1 n 13.0 7.9 j 43 9.0 10.1 4.50 14.0 30 2.19 Iso 3.71 to 50. 410.4witnwo in 344,000 3&u, f92.4go 4tm j55.sb 245.100 Xcvi 14k 1.71 100 022 too to of 20 Jodi mute hmm pm min Powar Tomt Ino Ornido cuu cd go Etna be Kyj 65 i t 4 02 160 2.3 190 it 6.5 22.0 111 4x 692 16d 17 Imp _ 4% s b4 200 0.3 4st 304 130 0.7 is v 4 3h 2.1 b 114 a t 3k 10.0 0.9 so t 3 4.b6 by 4 t 3 402 17.0 36 46u j 4.29 11.0 3,8 Ann co Poilu la Ign my a tango Dou of feb Eum be old Josh � to j 1.14 310 0.1 of 1090 100 35 5 00 240 ft4 demo of 0 09 1469 10 i4ui11 no mud. American Philips it does not already jumped 7 to 81 i. After the Market closed Friday the world Large employment services company and Blue Arrow put signed a definitive merger agreement in which Blue Arrow bought manpower for $82.50 a share or 11.32 billion. Gillette Rose it to 42. It received a s47-a-share bid from Kevlon group and rejected i technology issues strengthened. Digi Lal equipment climbed b h to 190, Cray research Rose 6k 10 i 6vi and Compaq computer jumped 4vt to 69�. Salomon inc. Rose Iklo 37vl the company tuesday said its brokerage Unis completing a strategic review of it operations. Citicorp fell 4k to 62%. La announce plans for a 17 million share Stock offer ing next month Smithk Jine Beckman fell 5 it to fish on pews the Fra has approved a generic form of Smil Kline be Kitian s anti hypertensive drug Dyaz Ide. In trading on the american Slock Exchange Bolar. Which makes the generic version jumped Dak to 35vt. Ii said the drug should boost company sales by More than to million renewed restructuring or take Over rumours Mca Rose 2� to 62fc while tra Samerica eased it to 46v. Overall advancing issues outnumbered losers 975-961 among the 2,196new York Stock Exchange Issue Chang ing hands. The number of shares Chang ing hands on the new York Stock Exchange during the week totalled 932,f2l,370, compared with 1,114,312,630 the week before and632,131,180 shares traded during the same week a year ago. The Dow Iranio ration Index fell 14.49 to 1086.67. The interest rate sensitive Dow Utility Index fell 3.20, ending at 210,s9. Prices were mixed in Active trading on the american Stock Exchange. Declines outpaced advances 463-400 among the 1,017 issues traded. Volume was62,560,620 shares compared with 72,971,500 the week before and 44,631,555 during the same week a year ago. Blocker Energy was the most Active Max Issue unchanged a fund or from Page 19 saw e uie Coto fun Toltie 1 e to the us to no. 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