What’s a Bequest?

When a person uses a will to leave property to their family, friends or the causes they support, the act is known as a bequest. A bequest can be the cash, investments, jewelry or other items that a person passes to beneficiaries when they die.

02/11/23 • by: Goldsmith & Guymon, P.C.

When Is Life Insurance Taxable to Beneficiaries?

When beneficiaries receive a payout from a life insurance policy, they typically don’t have to pay taxes. However, there are a few situations where a portion of the life insurance benefit is taxable to the beneficiary.

02/10/23 • by: Goldsmith & Guymon, P.C.

Why Everyone Needs an Estate Plan

Estate planning isn’t just for wealthy individuals with large assets; it’s essential for everyone.

02/09/23 • by: Goldsmith & Guymon, P.C.

How to Protect Loved Ones from Being Disinherited

If your beneficiary designations are out of date and you die without updating those designations, your assets could go the wrong people–a former spouse, for example–no matter what your will says.

02/08/23 • by: Goldsmith & Guymon, P.C.

What are Big Mistakes When Writing Financial Power of Attorney?

Estate experts agree that a financial power of attorney is one of the most important documents to include in your estate planning. It allows you (the “principal”) to name a person you trust (your “agent”) to make decisions about your property and finances if you cannot.

01/27/23 • by: Goldsmith & Guymon, P.C.

What Is Needed in Estate Plan Besides a Will?

One reason for having a will is to make sure your wishes are carried out. If you die “intestate” (without a will), your assets will be distributed by state law, not by your desires.

01/26/23 • by: Goldsmith & Guymon, P.C.

What Happens When Property Is Owned Jointly and an Owner Dies?

Various types of property, such as bank accounts and real estate, can be owned jointly with another person(s).

01/25/23 • by: Goldsmith & Guymon, P.C.

Some Expenses are Paid by Estate and Some by Beneficiary

If you’re set to inherit, you may be wondering what estate expenses are paid by the beneficiary. The answer can depend on what assets are passed on to you when a family member or loved one passes away.

01/24/23 • by: Goldsmith & Guymon, P.C.

Can I Protect My Family after Death?

The future is uncertain. However, you can ensure that your family and loved ones are taken care of with estate planning. Estate planning is a critical component of financial planning for the future.

01/23/23 • by: Goldsmith & Guymon, P.C.

Does My Estate Plan Need an ‘ePlan’?

At any given time, the average American maintains between 30 and 50 online accounts. These may be with banks, financial institutions, utility companies, email providers, social media outlets, commercial shopping or travel sites and accounts unique to technology, such as an account to purchase apps for a smartphone.

01/06/23 • by: Goldsmith & Guymon, P.C.

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