by Sanford Okura | Jun 22, 2011 | Articles
THE REVOCABLE LIVING TRUST TRAP Here is a Medicaid rule that often surprises those in nursing homes: if your home property is in a Revocable Living Trust, you cannot qualify for Medicaid for nursing home costs until you take your home out of the trust. However,...
by Sanford Okura | May 22, 2011 | Articles, Asset Protection
ASSET PROTECTION FOR YOUR FAMILY Your will or trust probably says that you give your assets to your children when you die. (Whenever I mention “children,” I also mean nieces and nephews, brothers and sisters, or anyone else who will be inheriting...
by Sanford Okura | Apr 29, 2011 | Articles
2011 ESTATE PLANNING UPDATE By Sanford K. Okura Here is a 2011 update on important numbers used in Estate Planning and Medicaid Planning in Hawaii. How much money and property can a person have at death without paying estate taxes? Under a temporary federal...
by Sanford Okura | Mar 18, 2011 | Articles
On February 23, 2011, Governor Abercrombie signed into law Senate Bill 232, which makes civil unions legal in Hawaii, starting January 1, 2012. Although the law says that a civil union is not a marriage, it gives partners in a civil union the same legal rights and...
by Sanford Okura | Dec 21, 2010 | Articles
COMMUNITY PROPERTY If you own property in any of the following states, it is important that you understand the basics about community property: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Also Puerto Rico and...
by Sanford Okura | Oct 29, 2010 | Articles
To avoid probate, people sometimes put loved ones’ names on property or bank accounts as “joint tenants.” When one joint tenant dies, his or her share automatically passes to the other joint tenants. Joint tenancy does avoid...
