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 | Estate Planning
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 | Asset Protection, Estate Planning
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...
by Sanford Okura | Jan 3, 2009 | Asset Protection, Estate Planning
Nearly every day now, newspapers and televisions are blasting us with information about how bad the economy is. We are in the worst economic crisis since the great depression of the 1930’s. In the midst of this financial crisis, what can you do to protect your...
by Sanford Okura | Dec 9, 2008 | Estate Planning
How much in assets can a husband and wife have and still qualify for Medicaid to pay nursing home costs for one of them? Effective January 1, 2009, a husband and wife together can have $111,560 in assets and still have Medicaid pay for the nursing home costs for one...
