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Estate Planning Blog

What Is a Power of Attorney?

A power of attorney is a legal document with which a principal authorizes an agent to act on the principal’s behalf and for the principal’s benefit.
05/20/22 • by: Goldsmith & Guymon, P.C.
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Can You Inherit a House with a Mortgage?

Dealing with the loss of a loved one is never easy. When inheritances, homes, estates and mortgages are involved, tensions can run high within a family. It is easy to get lost in the paperwork and terms.
05/18/22 • by: Goldsmith & Guymon, P.C.
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Should You Update Your Estate Plan?

Frequent triggers also include changes in the health of executors and guardians; changes in laws, which may impact tax and legal strategies; and changes in state residence, which can also impact planning.
05/17/22 • by: Goldsmith & Guymon, P.C.
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Why Is Communication Important in Estate Planning?

For most families, the estate planning process is more involved than simply naming beneficiaries. While the primary goal of estate planning is transferring assets in an orderly and tax-efficient manner, it’s just as important to focus on preserving wealth across generations.
05/13/22 • by: Goldsmith & Guymon, P.C.
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How Do I Contest a Will?

Being disinherited or left out of a will is the last thing you want to discover in the wake of losing a loved one. Although it can be very hurtful to not be included, the fact that a person is disinherited does not necessarily indicate foul play.
05/12/22 • by: Goldsmith & Guymon, P.C.
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My Children Really Don’t Want My Stuff?

Your grown children will not agree to be the recipients of your downsizing, if it means their upsizing.
05/11/22 • by: Goldsmith & Guymon, P.C.
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What Is Federal Estate Tax Exemption, and Does It Matter?

The federal estate tax exemption and gift exemption is presently $12.06 million. A married couple can transfer $24.12 million to their children or loved ones free of tax with proper planning. The exemption is tied to inflation, so it will continue to rise.
05/10/22 • by: Goldsmith & Guymon, P.C.
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What Assets are Not Considered Part of an Estate?

In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so called non-probate assets.
05/09/22 • by: Goldsmith & Guymon, P.C.
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How to Get Started on an Estate Plan

The Covid-19 pandemic has increased Americans’ awareness of the need to have a will, living trust or other similar end-of-life document prepared.
05/06/22 • by: Goldsmith & Guymon, P.C.
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What Does a Will Do and Not Do?

Everyone needs a will. However, some people need more than that. To save on taxes and make for a smooth transition, they could really use a revocable trust, a family limited partnership or a gift trust.
05/05/22 • by: Goldsmith & Guymon, P.C.
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