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...
by Sanford Okura | Aug 21, 2010 | Articles
In the Estate Planning Insights column for October 2009, I explained the “stepped up basis.” When a person dies owning property such as real estate or stocks, the fair market value of that property on the date of death will become the new tax basis of that property. ...
by Sanford Okura | Jul 19, 2010 | Articles
WHY YOU SHOULD CONVERT TO A ROTH IRA Forget all the articles you have read about whether you should convert to a Roth IRA. Forget about “Roth IRA Conversion Calculators.” If you have a substantial amount in a retirement plan that can be converted to a Roth IRA, you...
by Sanford Okura | Dec 18, 2009 | Articles
TENANTS BY THE ENTIRETY Most married couples in Hawaii buy their home as “tenants by the entirety.” Many have transferred their home to their trusts. Which is better? To own your home as tenants by the entirety, or to put your home into your trusts? Let’s look at...
by Sanford Okura | Oct 14, 2009 | Articles
In estate planning, it is important to understand “stepped up basis.” When you buy property (for example, real estate or stocks) your “tax basis” in the property is the amount you pay for the property. When you sell the property, you have profit or “gain” equal to...
by Sanford Okura | Aug 31, 2009 | Articles
When a person dies with $100,000 or less in assets, there are simple ways to settle the estate. One way is to use an Affidavit for Collection of Personal Property. Another way is to have the clerk of the circuit court open a Small Estate proceeding. ...
