Category: Wisdoms

  • A Hui Hou

    All good things must come to an end, or so they say. This is the last article by this author that will appear in this publication. I wish the Generations team and readers all the best in every way. I hope that over the past 15 years, you have gleaned from this column how important…

  • Finding a Trustworthy Financial Advisor

    Thinking about investing? You’re not alone. According to Gallup, 85% of Americans are actively seeking financial guidance—but BBB finds that too often, people lose money to bad advice and fraudulent “investment gurus” posing as experts. BBB’s 2024 Scam Tracker Risk Report found that investment scams are the riskiest in North America, with the highest susceptibility…

  • The Good & Bad News About Estate Tax

    The One Big Beautiful Bill, now a law, “permanently” increased the maximum lifetime exclusion amount that any US citizen or resident can use to shelter gifted assets or assets passing at death from the federal gift or estate tax. The new estate and gift tax exclusion beginning in 2026 is $15 million per US citizen…

  • Managing Aging Parents’ Finances

    Making financial decisions takes time, attention and energy at any age. In the case of elderly adults, it may become increasingly difficult to manage finances, particularly if their health is declining or they’re experiencing a cognitive issue. If you’re providing support to aging parents—or plan to in the future—here are some tips on how to…

  • Documenting Your Hopes & Values

    Parents have their own unique perspective on how to raise their children, and what values and lessons to instill. They also have personal beliefs about how their children should manage money. Most parents would prefer that an inheritance serve to enrich and support their child’s life rather than replace the need to work or find…

  • Will a Will Do What You Think It Will?

    Most people think of a last will and testament as the cornerstone of an estate plan. For most of us, however, it’s a lousy cornerstone. Your will is often simply a safety net that helps make sure your overall estate plan is going to work as it was designed. Your will is like the spare…

  • Protecting Your Child’s Assets

    Consider creating a trust to hold your child’s inheritance. Whether you are married or a single parent, consider how to ensure that your hard-earned assets are used properly for the benefit of your child, and not misused or taken away. Minor children cannot own assets, so if a minor is named as a beneficiary of…

  • DIY Estate Planning

    The problem with do-it-yourself estate plans is they often don’t work in the real world. An effective plan involves far more than a set of documents—even very well-drawn documents that would stand up in any court in the land, as they say in the commercials. But why would you want your estate plan to have…

  • Downsizing Your Home in Retirement

    If you are approaching retirement or are already there, you may be considering downsizing your home. It’s a big decision, with ramifications for both your finances and lifestyle. As you think about downsizing, here are some things to keep in mind: Decide if a move makes sense. You can expect your needs and priorities to…

  • Navigating Hawai‘i’s Condo Laws, Part 2

    Part 2 of this two-part series continues navigation of the challenges that can be found in the complex world of condominium law and how to pave the way for reform. Governance Gone Wrong Several recent incidents illustrate the challenges facing Hawai‘i’s community associations. On Hawai‘i Island, a condominium board began repairing common area la¯nai structures…

  • Having a Child

    Bringing a baby into this world is one of life’s greatest joys. Along with this joy comes responsibility and concern for the raising of this child. The preparation for having a child and raising a child is vast — finding a child seat for the car, diapers, interviewing pediatricians, childcare, safe-proofing the home and schooling,…