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FIDUCIARIES IN YOUR ESTATE PLANNING DOCUMENTS

When you sign an estate planning document such as a revocable living trust or a will, you appoint someone to handle your assets for you. The person you choose to handle things for you is called a “fiduciary.” A “fiduciary” is in a position of great trust and responsibility. A fiduciary named in your document usually has the power to buy, sell and manage assets for you.

DURABLE POWER OF ATTORNEY

In my last column, I wrote about the Advance Health-Care Directives which contains a “Power of Attorney for Health Care.” I explained that it is a different document than a Durable Power of Attorney, which is used for financial matters. Every adult should have a...

ADVANCE HEALTH-CARE DIRECTIVES

Everyone should have Advance Health-Care Directives. “Advance Health-Care Directives” are instructions which you are giving now (while you can still make decisions) about how you want doctors and hospitals to take care of you when you can no longer make your own...

HOW TO AVOID PROBATE

In 2020, there was an increase in the United States death rate of 15.9%. COVID-19 related deaths amounted to over 375,000, which accounts for most of that increase (11.3%). With all these extra deaths, many senior citizens and even younger clients are concerned about...

GENERATION SKIPPING TRUST also known as a LEGACY or DYNASTY TRUST

Today, I want to talk about a term that is often misunderstood in estate planning: The Generation Skipping Trust.  A generation skipping trust does not mean that the inheritance skips your children and only goes down to the grandchildren—that is the big...

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FIDUCIARIES IN YOUR ESTATE PLANNING DOCUMENTS

When you sign an estate planning document such as a revocable living trust or a will, you appoint someone to handle your assets for you. The person you choose to handle things for you is called a “fiduciary.” A “fiduciary” is in a position of great trust and responsibility. A fiduciary named in your document usually has the power to buy, sell and manage assets for you.

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Trusts & Wills

WHAT IS AN A-B TRUST?

WHAT IS AN A-B TRUST?

For most couples who do not have trusts, if one dies, everything goes to the spouse. If a married couple will have more than $5.49 million of assets (including life insurance death benefits), then having everything go to the spouse could cause an estate tax problem....

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THE REVOCABLE LIVING TRUST TRAP

THE REVOCABLE LIVING TRUST TRAP

Although a Revocable Living Trust is good for avoiding probate (and for married couples, an A-B Trust can reduce or eliminate estate taxes), it cannot protect your home from nursing home costs. Some years back, the State of Hawaii passed a Medicaid rule: If your home...

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UNDERSTANDING REVOCABLE LIVING TRUSTS

UNDERSTANDING REVOCABLE LIVING TRUSTS

Last month we shared information on funding your Revocable Living Trust.  This month we decided to go back to the very beginning and explain what a Revocable Trust is and how they started in the first place. What is a Revocable Living Trust?  Trusts began in England...

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WHAT OUT OF STATE CHILDREN NEED TO KNOW TO HELP THEIR AGING PARENTS IN HAWAII

WHAT OUT OF STATE CHILDREN NEED TO KNOW TO HELP THEIR AGING PARENTS IN HAWAII By Ethan R. Okura   We often have clients who raised their families here in Hawaii, and then sent their children off to the mainland or elsewhere in the world to pursue their...

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Medicaid

WHAT OUT OF STATE CHILDREN NEED TO KNOW TO HELP THEIR AGING PARENTS IN HAWAII

WHAT OUT OF STATE CHILDREN NEED TO KNOW TO HELP THEIR AGING PARENTS IN HAWAII By Ethan R. Okura   We often have clients who raised their families here in Hawaii, and then sent their children off to the mainland or elsewhere in the world to pursue their...

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Powers of Attorney & Health Care Directives

WHAT OUT OF STATE CHILDREN NEED TO KNOW TO HELP THEIR AGING PARENTS IN HAWAII

WHAT OUT OF STATE CHILDREN NEED TO KNOW TO HELP THEIR AGING PARENTS IN HAWAII By Ethan R. Okura   We often have clients who raised their families here in Hawaii, and then sent their children off to the mainland or elsewhere in the world to pursue their...

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