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Estate Planning – When to Claim Social Security Retirement Benefits

Ethan R. Okura Hawai‘i Herald Columnist If you are about to retire, I have some good news — and some not so good news — for you. The good news is that as a result of advances in science and health care treatments, today’s generation of retirees is living longer than ever before. At age....
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Estate Planning Insights – Non-Resident Alien Gift and Estate Tax

Ethan R. Okura Hawai‘i Herald Columnist This is the third column in my series on international estate planning. I started with the basics of international estate planning in July. Then, last month, I discussed some of the gift and estate tax issues associated with transferring assets to a non-citizen spouse. In this column, I’ll cover....
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Estate Planning – More on International Estate Planning

Ethan R. Okura Hawai‘i Herald Columnist In last month’s column, I introduced you to the basics of international estate planning. I explained the Internal Revenue Service’s definitions of a U.S. citizen, a non-resident alien and a resident alien. The definition of a resident alien is different for income tax purposes and for gift and estate....
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Estate Planning Insights – International Estate Planning

Ethan R. Okura Hawai‘i Herald Columnist The world today is increasingly interconnected. Global travel is commonplace these days, as is moving to another country for work or other opportunities. International marriages are also more commonplace. So, what do these facts have to do with estate planning? See more articles by Ethan by visiting https://okuralaw.com/blog/
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Estate Planning Insights – Fraudulent Student Loans and Identity Theft

Ethan R. Okura Hawai‘i Herald Columnist Sometimes you can do everything right, but still have everything go horribly wrong. Sometimes you do nothing at all and still have everything go very wrong. In the United States, you are innocent until proven guilty, except when it comes to fraudulent student loans that are taken out in....
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Estate Planning Insights – Automobiles in Estate Planning

ESTATE PLANNING INSIGHTS By Ethan R. Okura Many of my past columns have focused on how to structure your estate plan to protect your home. I’ve discussed protecting your primary residence and other real property from probate through the use of revocable and irrevocable trusts, through joint ownership or tenants by the entirety ownership and....
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Estate Planning Insights – Tenants by the Entirety for Personal Property

ESTATE PLANNING INSIGHTS By Ethan R. Okura Back in December of 2009, my father, Sanford K. Okura, wrote an excellent article titled “Tenants by the Entirety.” It explained the pros and cons of holding property as “tenants by the entirety” as opposed to holding them in revocable trust(s). At the time, tenants by the entirety....
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Estate Planning Insights – Tax Filings, Payments and Other Considerations

ESTATE PLANNING INSIGHTS By Ethan R. Okura Happy New Year! The following is a 2019 update on important numbers used in estate planning and Medicaid planning in Hawai‘i. How much money and property can a person have at death without paying estate taxes? At the end of 2017, Congress passed a new tax bill which....
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Estate Planning Insights – Wrapping Up Your Estate Plan

ESTATE PLANNING INSIGHTS By Ethan R. Okura Happy Holidays! This is the time of the year when we make an extra effort to be thankful for all that we have. We focus on the spirit of giving and we wrap up presents for our family and loved ones. This thought made me chuckle a little....
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Estate Planning Insights – Retirement Savings and New Contribution Limits

ESTATE PLANNING INSIGHTS By Ethan R. Okura There’s no question about it: Saving for retirement is not easy. There are quite a few types of retirement accounts. Each has its own rules and tax benefits, although, for the most part, they tend to be similar. The amounts you can contribute, however, vary from plan to....

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