by Sanford Okura | Dec 18, 2009 | Estate Planning
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 | Nov 29, 2009 | Medicaid and Nursing Home Costs
The February 2006 Estate Planning Insights column was entitled “Big Change in Medicaid Laws.” On February 1, 2006, Congress passed the Deficit Reduction Act of 2005. President Bush signed the bill into law on February 8, 2006. This new federal law makes important...
by Sanford Okura | Oct 14, 2009 | Estate Planning
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 | Sep 29, 2009 | Powers of Attorney and Health Care Directives
“DO NOT RESUSCITATE” With an Advance Health Care Directive, you can make “end of life” decisions. You can choose to die naturally, without life support. However, if your heart stops beating, emergency medical personnel will resuscitate you, even if you have an...
by Sanford Okura | Aug 31, 2009 | Estate Planning
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. ...
