Author: Stephen B. Yim, Attorney at Law

  • Grief & Bereavement — Part III

    Facing one’s mortality is the unspoken uneasiness that rests just below the surface of the conversation with an estate planning attorney. Estate planning attorneys are well-versed in the law of estate planning. But as they focus heavily on probate avoidance and tax minimization, they may overlook the emotional, human side of estate planning. Therefore, the…

  • Grief and Bereavement — Part II

    Continuing from my last article, I believe that clients really want the estate planning attorney to help them meet their needs so that they can reduce their fear, anxiety and anticipatory grief in light of their knowledge of their inevitable death.

  • Grief & Bereavement — Part I

    Grief is a natural response to the loss of someone special. The process of grieving allows the griever to adapt to a new world of existence without the loved one. If allowed to proceed through the grieving process with minimal guilt, anxiety, stress, unresolved issues and conflict, we can help each griever experience their grief…

  • Protect Pets After You’re Gone

    Growing up, my family always had a pet. From dogs to cats to frogs and even a chicken for a day, pets have always been a part of my life. Today, our pet family consists of three dogs, a guinea pig, a bunny and frogs. Our pets are not just animals but members of our…

  • Adequate, Equal, Equitable or Fair?

    Parents often struggle with the concepts of equal, equitable, fairness and adequacy when it comes to the distribution of their assets among their children. Defining these terms will help us make the decision that  most closely reflects our intention.

  • The Two Asset Distribution Standards

    As an estate planning attorney, I observe how families decide to distribute their assets among their children. I have seen two main standards used to determine the gift. First is the standard of meeting needs and wants. As parents, we know the needs and wants of our children, and do our best to meet both…

  • How to Choose the Best Fiduciary

    Two of the most frequently asked questions I hear are “How do I choose a trustee?” and “Am I choosing the right trustee?” Here are six criteria to help you choose the right fiduciary for you.

  • Define Your Legacy’s Intentions

    According to the book, Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values, “60 percent of transition failures were caused by a breakdown of communication and trust within the family unit.” With the aging demographic of baby boomers, the high cost of living in Hawai‘i and the increase in multigenerational homes,…

  • Passing on Keepsakes

    Passing on keepsakes to those we care about and who we know will cherish them can be a meaningful experience. We hope that the recipient of these items will continue to find value and meaning in the keepsake long after we are gone.

  • A Recipe for Conflict

    I have noticed a troubling emerging trend in estate planning. More families are owning property with different generations. This could be because real estate in Hawai‘i is expensive to purchase and even harder to maintain and keep. It is further exacerbated in situations where there are multiple children beneficiaries and/or where the parents need to…