by Sanford Okura | Jun 12, 2009 | Trusts and Wills
THE SPECIAL NEEDS TRUST Suppose you have a child with a disability. Perhaps the child was born with a mental disability. Perhaps he or she was born with a physical disability. In some cases, the child may have been normal at birth, but later in life acquired a...
by Sanford Okura | May 29, 2009 | Medicaid and Nursing Home Costs
MEDICAID PLANNING I am thinking about a meeting I had recently. The daughter of a client came to discuss her mother’s situation. Mother is elderly. She suffers from...
by Sanford Okura | Apr 29, 2009 | Estate Taxes and Gift Taxes
PROPOSED NEW LAWS There are some proposed new rules and laws which would affect estate planning. First, let’s review the current estate tax law. The estate tax is a federal tax. At this time there is no Hawaii estate tax or inheritance...
by Sanford Okura | Mar 26, 2009 | Articles
Whenever you give away assets, there are laws in three different areas to consider: 1) gift taxes; 2) Medicaid rules for nursing home costs; and 3) capital gains taxes. Many people think you can give only $10,000 tax-free to each individual. Actually, the amount is...
by Sanford Okura | Feb 6, 2009 | Articles, Asset Protection
The economic news continues to get worse and worse. First, here is a brief summary of some of the advice I offered in last month’s Estate Planning Insights. Make sure that your savings accounts, checking accounts and certificates of deposit are in...
