by Sanford Okura | Jun 26, 2010 | Estate Taxes and Gift Taxes
There is now a new Hawaii estate tax. The bill proposing the tax (House Bill 2866) was vetoed by Governor Lingle on April 25, 2010. The Hawaii legislature overrode the veto on April 29, 2010, and the bill became Act 74 on April 30, 2010. It imposes a tax on the...
by Sanford Okura | May 21, 2010 | Medicaid and Nursing Home Costs
PROTECT YOUR HOME FROM MEDICAID LIENS (PART 3) Last month and the month before, I explained how to protect your home from Medicaid liens. In my April column, I described how a parent can transfer the family residence to the children, and keep a “life...
by Sanford Okura | Apr 16, 2010 | Medicaid and Nursing Home Costs
PROTECT YOUR HOME FROM MEDICAID LIENS (PART 2) Last month we discussed the dangers of having the government put a Medicaid lien on your home and property if you end up in a nursing home. Remember, a “revocable living trust” cannot protect your home from...
by Sanford Okura | Mar 20, 2010 | Medicaid and Nursing Home Costs
PROTECT YOUR HOME FROM MEDICAID LIENS More and more senior citizens are becoming concerned about nursing home costs. No one really wants to go to a nursing home. Nearly every elderly person would prefer to stay at home. However, no matter how much...
by Sanford Okura | Feb 24, 2010 | Estate Taxes and Gift Taxes
2010 – AN UNUSUAL YEAR FOR TAX LAW There is no federal estate tax this year. Since the State of Hawaii has no inheritance tax, Hawaii residents can die this year with any amount of assets and pay no death taxes at all. This is only for the year 2010. ...
