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1) Significant Accounting Policies: Other Intangibles (trade name and customer lists) (Tables)
12 Months Ended
Dec. 31, 2019
Tables/Schedules  
Other Intangibles (trade name and customer lists)

Other Intangibles (trade name and customer lists)

 

Other intangibles are recognized apart from goodwill whenever an acquired intangible asset arises from contractual or other legal rights, or whenever it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented, or exchanged, either individually or in combination with a related contract, asset, or liability.  The Company engaged a valuation firm to analyze the value of the Kilpatrick Life name in conjunction with its acquisition.  The value of the trade name is included in Other Assets and was determined using the income approach, relying on a relief from the royalty method.