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HAWAII ESTATE AND GENERATION SKIPPING TRANSFER TAXES (July 2012)

HAWAII ESTATE AND GENERATION SKIPPING TRANSFER TAXES On July 5, 2012, Governor Abercrombie finally signed into law the Estate and Generation-Skipping Tax Reform Act, which is Act 220. Parts of this law were badly needed to clean up the poorly written Hawaii Estate Tax...

The Durable Power of Attorney – Part 2 (June 2012)

THE DURABLE POWER OF ATTORNEY – PART 2   Not all Powers of Attorney are of equal quality.  You need a carefully written Power of Attorney which contains special wording for estate planning situations.  A Power of Attorney does not give the...

The Durable Power of Attorney – Part 1 (May 2012)

Every adult should have a Durable Power of Attorney.  A “Power of Attorney” is a legal document in which one person gives another person the power to act for him, including the power to sign papers for him.  The person who is giving the power is...

Understanding Revocable Living Trusts (April 2012)

UNDERSTANDING REVOCABLE LIVING TRUSTS   Trusts began in England in the Middle Ages. The Statute of Uses is a law enacted in 1536 under King Henry VIII. The Statute of Uses is the basis of trust law in England.  From England, the concept of trusts came to America...

Making It Easier For Your Loved Ones (March 2012)

MAKING IT EASIER FOR YOUR LOVED ONES From time to time, our law firm has a client who passes away with a situation similar to the following actual experience.  The wife died. She handled all of the family finances.  She was the family record keeper.  When she died,...