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.

Don't Gamble with Your Future: Why Choosing the Right Estate Planning Attorney Matters

Estate planning: two words that encapsulate the entirety of your life’s work and the legacy you wish to leave behind. It is a profound yet often misunderstood aspect of personal finance and legal preparedness. As an experienced estate planning attorney, I’ve seen firsthand the turmoil and heartache…

01/25/24 • by: Goldsmith & Guymon, P.C.

What are the Rules for Inheriting an IRA?

Know what to expect if you inherit an IRA and how to establish a plan for taking distributions.

01/25/24 • by: Goldsmith & Guymon, P.C.

Is Retirement Planning the Same as Estate Planning?

It’s best to create both together when possible so that they can complement each other. Here’s what you need to know.

01/20/24 • by: Goldsmith & Guymon, P.C.

What Questions Should You Ask an Estate Planning Attorney?

Estate planning is not as simple as executing a will.

01/19/24 • by: Goldsmith & Guymon, P.C.

Taxes that Affect an Estate

Estate tax and inheritance tax significantly impact an estate’s value. Estate tax is levied on the estate’s total value at death before distribution to beneficiaries. In contrast, inheritance tax is imposed on the beneficiaries based on the value of assets received. Understanding these taxes is critical for effective estate planning…

01/18/24 • by: Goldsmith & Guymon, P.C.

Maximizing Charitable Giving in Your Estate Plan with Knowledgeable Trust and Estate Counsel

Estate planning is a vital aspect of financial management, ensuring that your assets are distributed according to your wishes after your passing. Incorporating charitable giving into your estate plan can be a fulfilling way to leave a legacy, while reaping tax benefits. This article delves into the intersection of charitable giving and estate planning…

01/17/24 • by: Goldsmith & Guymon, P.C.

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Estate Planning Blog

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

How Do You Stop Family Fights over Inheritance?

Top 5 Estate Planning Nightmares You Can Avoid with a Will

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

Don't Gamble with Your Future: Why Choosing the Right Estate Planning Attorney Matters

What are the Rules for Inheriting an IRA?

Is Retirement Planning the Same as Estate Planning?

What Questions Should You Ask an Estate Planning Attorney?

Taxes that Affect an Estate

Maximizing Charitable Giving in Your Estate Plan with Knowledgeable Trust and Estate Counsel

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