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Estate Planning – An Ethical Will, The Importance of Passing On Your Assets and...

ESTATE PLANNING INSIGHTS By Ethan R. Okura Are you familiar with the proverb, “Shirtsleeves to Shirtsleeves in Three Generations?” Or maybe you’ve heard the saying as: “Rags to Riches to Rags in Three Generations.” The ancient Chinese version of this proverb is Fu bu guo san dai, which roughly translates to, “Wealth does not sustain....
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Estate Planning Insights – How Kids Can Be Oyakoko Even When They Live Away

ESTATE PLANNING INSIGHTS By Ethan R. Okura There is a term in Japanese culture — oyakökö — which means to love and care for your parents, although it is really a sentiment that is embraced universally, regardless of race. At our office, we oftentimes have clients who raised their families here in Hawai‘i and then....
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Estate Planning Insights – Inside the Tax Cuts and Jobs Act

ESTATE PLANNING INSIGHTS By Ethan R. Okura In last November’s column, I wrote about the then-proposed federal Tax Cuts and Jobs Act. There were quite a few changes in the proposed legislation, which left many people in a state of confusion as the bill went through several revisions before finally being passed into law. Many....
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Estate Planning – “Undue Influence” and Other Will Problems

ESTATE PLANNING INSIGHTS By Ethan R. Okura In previous columns, I have addressed the subject of financial abuse of the elderly. This usually involves outright stealing or fraud. However, there is another form of financial abuse that is subtler, harder to identify and often doesn’t show up until after the beloved family member has passed....
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Estate Planning Insights – Aretha Franklin Follows in Prince’s Footsteps

ESTATE PLANNING INSIGHTS By Ethan R. Okura Just over two years ago, I wrote a column about Prince, the musical legend, and how he passed away without a will. I detailed some of the problems that his estate would face — and continues to face to this day — because he did not adequately prepare....
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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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Estate Planning Insights – The Role of the Successor Trustee, Now What Am I...

ESTATE PLANNING INSIGHTS By Ethan R. Okura The following is an all too familiar scenario at our law firm: A parent, a sibling or a dear friend has finally gotten around to doing their initial estate planning. You are so happy for them. And then you find out that you have been named their “successor....
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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 – 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 – 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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