Do You Need a Power of Attorney as Part of Your Estate Plan?

Alarmingly, approximately 50 percent of American adults lack any form of POA, but that is not surprising when you realize that only 45 percent of adults over the age of 55 have a will.

02/06/24 • by: Goldsmith & Guymon, P.C.

What Does Your Estate Plan Include Besides a Will?

When you chose to write a will, you have taken an important step in the direction of planning for your family and beneficiaries.

02/06/24 • by: Goldsmith & Guymon, P.C.

Who Can Benefit from a Special Needs Plan: Crafting a Comprehensive Plan for the Future

Whether you’re a parent with a special needs child or an adult caring for an elderly or special needs loved one, understanding the benefits of a comprehensive Special Needs Plan is crucial. Careful planning ensures that the individual with special needs has clear financial security upon your death, as well as specific goals to address the needs of your child or loved one so that they can be successful in the future. From guardianship and living arrangements to managing finances and planning for adulthood, each element of a special needs plan plays a crucial role in ensuring a secure and…

02/03/24 • by: Goldsmith & Guymon, P.C.

What Should I Do to Get My Affairs in Order?

Making a plan in case you become incapacitated and preparing for your eventual death can help you to protect your assets and preserve your legacy.

02/02/24 • by: Goldsmith & Guymon, P.C.

What Is the Biggest Mistake People Make on Their Wills?

Have you managed to avoid the eight most common estate planning mistakes? Your family will thank you.

02/01/24 • by: Goldsmith & Guymon, P.C.

What Is a Subtrust? Additional Benefits Subtrusts Provide

A subtrust is a separate entity created under the umbrella of a primary trust or a will. A subtrust becomes active based on the terms of the trust or will when certain events happen, such as the death of the primary grantor, or creator. Subtrusts are one tool that estate planning attorneys use to help families pass on inheritances and protect their heirs from creditors or issues such as lawsuits or divorce. Subtrusts serve various purposes depending on…

01/31/24 • by: Goldsmith & Guymon, P.C.

Maximizing Estate Tax Benefits with Qualified Personal Residence Trusts (QPRTs)

A Qualified Personal Residence Trust (QPRT) is a unique financial tool used in estate planning to reduce the potential estate tax liability by transferring a principal residence or vacation home into a trust. As an irrevocable type of trust, a QPRT allows the grantor to remain in the home for a predetermined term of years, making it a strategic choice for those looking to manage their estate tax effectively. Learn more about QPRTs. In the realm of estate planning, QPRTs serve…

01/30/24 • by: Goldsmith & Guymon, P.C.

How Do You Stop Family Fights over Inheritance?

A highly successful estate-management strategy for avoiding inheritance disputes is to make a meticulously detailed and legally sound will.

01/28/24 • by: Goldsmith & Guymon, P.C.

Top 5 Estate Planning Nightmares You Can Avoid with a Will

In the realm of estate planning, a common adage rings true: “Failing to plan is planning to fail.” As an experienced estate planning attorney, I’ve witnessed firsthand the turmoil and heartache that can ensue when individuals neglect the crucial step of…

01/27/24 • by: Goldsmith & Guymon, P.C.

5 Reasons a Will Is Your Secret Weapon (Even If You're Young and Healthy)

In the vibrant journey of life, especially when we’re young and healthy, planning for the unexpected is often relegated to the back burner. The concept of a will, typically associated with age or affluence, might seem like a distant need. Yet, it’s a powerful tool that transcends…

01/26/24 • by: Goldsmith & Guymon, P.C.

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