Creating Secured Passwords
To create secure passwords, you generally want to set the minimum password length to at least eight characters, but a minimum length of 14 characters is better.
High Cost of Saving Money
It’s expensive living in paradise. It’s really expensive aging in paradise. Many seniors have had to resort to relying on the “cash economy” to help them out. “Cash economy” is the term used to refer to hiring or purchasing things“ under the table” or with cash so that there is no paper trail and therefore no taxes have to be paid.
Adequate, Equal, Equitable, or Fair?
We often struggle with the concepts of equal, equitable, fair, and adequate when it comes to the distribution of our assets among our children. Understanding the meaning of each term helps us make the decision that most closely reflects our intention.
Managing Risk at Retirement
We encounter risk in all facets of our life. Why do we take risk if we have a choice? Simply put: We take on risk in exchange for some kind of return. Generally, the potential for higher returns from investments comes with greater risks.
Blessing or Curse?
Receiving an inheritance is like winning the lottery. What could possibly be wrong with that? Callie Rogers, age 16, won $3.1 million in a British lottery. By the age of 22 she was broke, living with her mother, and working three cleaning jobs. William Post won $16.2 million in the Pennsylvania Lottery in 1988…
Making a Smart Move in Retirement
Searching for warmer weather, moving closer to adult children and grandkids or pursuing a change in scenery are just a few reasons why many Americans choose to move in retirement. These retirees often relocate for emotional reasons, but it’s important to consider the financial impacts, too.
Resolve to Have a Healthy Computer
At the start of a new year, many of us make a New Year’s resolution to get healthy. Did you make a resolution to start the year with a “healthy” computer, too? Here are some computer health tips…
Visit Often to Forestall Elder Abuse
It is only by knowing what is going on in our parents’ and grandparents’ lives that we can prevent certain abuses from occurring. Get involved and find out your loved one’s routine. Talk to them. Any deviation from their norm may be a warning sign to you that they are being targeted for a possible scam.
Honoring the Mighty Pen
Making an estate plan that clearly documents intention helps surviving family members avoid fighting; especially in court. Yet lawyers will write the estate plan for exactly that purpose — writing as if it were going to be fought over in court. I call this legalese legal dis-ease. Write your intentions down in your own hand-writing for inclusion in your estate plan so that you don’t risk miscommunication or misunderstanding among surviving family members.
Everybody Should Have One
We have a right to say “enough is enough” when it comes to medical care, including the use of respirators and tube feeding. We also have the right to name who will speak for us when we cannot speak for ourselves. Having a clear and comprehensive advance health care directive is only way to be sure that your wishes will be known and carried out.
5 Retirement Planning Mistakes to Avoid
The most important goal for many of my clients is to retire on their terms – which often means planning a long, secure retirement that enables them to check off items on their ultimate bucket list. Retirement requires careful planning in addition to avoiding financial missteps along the way. Here are five common mistakes, and strategies to avoid them…
How to Avoid ‘Donating’ to Scammers
With all the natural disasters happening throughout the world, unscrupulous scammers are looking to take advantage of our empathy and generosity as we seek ways to help the victims of those disasters. These scammers will be soliciting donations using telephone messages, emails, and even social networking services like Facebook.
Please, Make the Time to Visit
When my father-in-law “Gramps” had a stroke, he spent time at the hospital, rehab, and then a nursing home, before finally being able to return to his house. During those months of recovery away from home, my family made every effort to visit him daily. Between my wife, brother-in-law, mother-in-law and myself, we were pretty successful in making sure he would have the company of a loved one every day.
Understanding Grieving Styles
There is no “good grief” or “bad grief”— there is only grief. Drs. Kenneth Doka and Terry Martin* suggest that there are two types of grievers: “instrumental” and “intuitive.” Neither type is deficient; only different. Understanding the difference can allow family members to empathize with, rather than attribute bad motives to, another family member.
Setting Financial Goals You Can Keep
Setting New Year’s resolutions is a tradition for millions of Americans who see January 1 as a fresh start. However, we all know how easy it is to have resolutions fall to the wayside as the year progresses.
Fortunately, if the goal you have in mind is a financial one, there are ways you can break it down into steps that will keep you motivated and on track to achieve it.
Who Gets my Stuff?
Is estate planning really all about “who gets my stuff”? Your assets may be important, but when you sift through the reasons for doing estate planning, you may find that identifying who gets your stuff takes a distant back seat to far more important considerations.
Lottery/Sweepstakes: An Overview
If I were to open a crime college, a place to learn the fine art of thievery, one class that would assuredly be on the curriculum would be Advance Fee Frauds, commonly known as sweepstakes and lottery frauds. This con involves the victim being told the lie that money is coming their way (usually from lottery winnings, insurance refunds or inheritance) but a fee/tax/processing charge has to be paid first to receive it. This one scheme is responsible for more money being stolen in Hawai‘i than any other crime.
Tension over Intention
It is not just families who disagree about the interpretation of legal documents. There seems to be tension among estate planning attorneys in regard to recommending that clients write down their heartfelt intentions to accompany those documents. Many lawyers believe that it is the form that is most important — that the written legal language will communicate their client’s heartfelt wishes. Others believe that, no matter how carefully written, the form alone cannot transfer intention.
Educating Adult Children About Saving
Many parents, in addition to planning for their own future, care deeply about helping their children find their financial footing as they enter adulthood. Having spent decades building up their nest eggs for retirement, they recognize the power of long-term financial planning and hope their children will capture the same benefits by starting to invest while they are young. Convincing someone just starting off in their careers to set aside money for retirement — which to them, may seem like light years away — can be a tough sell.
Hiring a Private Caregiver Can Be Tricky
When hiring a caregiver, you may be tempted to try to make the process as simple as possible by treating the caregiver as a “private contractor.” You tell the person “I will pay you so much an hour, and you deal with the IRS and the State when it comes time to pay taxes.” After all, taking on the responsibilities of withholding taxes (and then paying the taxing authorities), buying Workers’ Compensation insurance, paying Social Security and Medicare tax, and all the rest, can be a real pain. However, the IRS and the State will take the position that the caregiver is an “employee,” that you are an “employer,” and that all the legal obligations that attach to those labels are applicable to your situation.
Overcoming Securities Fraud
Only one out of every 44 cases of financial abuse among the elderly ever gets reported and even fewer make it to trial. This is the true story of one of those cases.
‘What’s My Line?’ Elder Abuse-style
“What does a con artist look like?” The answers I receive are oftentimes humorous. Descriptions of used car salesmen and politicians are shouted out, with visuals of “shifty eyes,” bad toupees, rapid speech, and loud aloha shirts added in for effect.
By Invitation Only
Ideally, estate planning is “by invitation only.” Most people misunderstand this to mean that we, as the lawyers, are the ones doing the inviting. In actuality, it’s you, the clients, who are doing the inviting, by inviting us into your unique and textured lives.
Boost the Impact of Charitable Giving
Another way to consider gifting assets is to set up a charitable trust. Trusts can help you manage highly appreciated assets in a more tax-efficient manner while, in some cases, allowing you to split assets among charitable and non-charitable beneficiaries
Three Documents Everybody Needs
There are three estate planning documents that every competent adult living in the State of Hawai‘i should have. Of course, “competency” can be an elusive quality, but once a Hawai‘i resident has turned 18, the law of our State presumes that person to be competent.
Salesman or Scammer?
In Hawai‘i, we must always be on the lookout for scammers going door to door posing as trustworthy salespeople. They may be offering lawn care, home improvement services, alarm systems, and more, and also pretending to be legitimate companies just to get you to trust them. Five tips to help protect you and your home
Adding up Elder Abuse Numbers
I have been with the Prosecutor’s Office now for over 22 years, and 10 years ago created the Elder Abuse Unit. This unit was the first (and still is the only) team in Hawai‘i dedicated to prosecuting felony offenses where the victims were 60 years of age or older.
Our Care, Our Choice
Before you panic about the new “Hawai‘i Aid in Dying Law,” it’s a great law but not for the reasons you may think. Governor Ige signed the Our Care, Our Choice Act on April 5, 2018 and it will become law on January 1, 2019. The new law’s purpose is to establish a regulated process whereby a mentally competent adult resident of Hawai‘i with a terminal illness and less than six months to live may choose to end life with a prescription.
What do all Those Designations Mean?
In today’s world of wondering whether information is reliable or not, it is critical to protect our kūpuna and their families. You may hear or see an advertisement for a business professional with a bunch of initials after their name and wonder what do all those initials really mean?
Mastering Change
Class reunions are poignant reminders of change. With each passing year, our classmates grow a little grayer, perhaps a little balder, and maybe a little more expansive at the midsection. Good thing we are not like our classmates, right? Actually, we are. Father Time is catching up with all of us. That sobering fact should inspire us to reflect each year on our estate plans and whether they still do what we want them to do.
If Inflation Returns, Are You Ready?
Inflation is the normal state of affairs in the U.S. economy. Most economists consider an annual increase in the cost-of-living of two or three percent per year to be a manageable level of inflation. This increase usually is a good trend, because it is an indication of a growing economy.
Don’t Give Wrongdoers a Free Pass
Recently, I took my youngest daughter to the Punahou Carnival, where waiting in line for the adult rides she has now graduated to is sometimes 40 minutes. As we were getting close to the front, I noticed four young adults walk several feet in front of us and stand in...Distributions – Consider Two Standards
As an estate planning attorney, I have the privilege of observing how families decide how to distribute their assets between and among their children. I have come to understand that there are two distinct standards that parents use to determine the gift. First, there...Irrevocable Life Insurance Trust Benefits
Including a trust that owns life insurance in your estate planning strategy can have the following benefits: MANAGEMENT. If you have a large estate and plan to pass a significant inheritance to children, an Irrevocable Life Insurance Trust (ILIT) enables you to...Hawaiian-Style Estate Planning
Estate planning is the process of protecting that which is important (far beyond simply financial or physical assets) and then passing those important things on to our loved ones and future generations. Many concepts that are central to Hawaiian culture are...Working Part-Time in Retirement
Traditionally, retirement means leaving the workforce to pursue decades of relaxation. However, today’s retirees and pre-retirees are reshaping what it means to leave the workforce. Retirement may be an opportunity to pursue a small business, start consulting or land...Thanatology Makes Us Think
I am honored that Marian University accepted me into the Masters of Thanatology program this past Fall. “Thanatology? What is that?” is the common remark I hear when I tell people of my new adventure. A thanatologist is a designated thinker about death. They help...Making the Call for Help
On average, I get one to three calls a day from the public seeking advice about elder abuse. Fortunately, only about 20 percent of the calls involve matters needing my office’s involvement. The rest are from people that see “elder abuse” in our name and hope we can help with their situation.
Love, Honor and a Final Resting Place
Many people ask to have their ashes spread at places that hold treasured memories for them, and Disney theme parks are not the exclusive venue for these requests.More often than you realize, human ashes are scattered covertly at sports stadiums, concert halls and golf courses.
Are You Ready for Emergencies?
The wrath of natural disasters has been on full display as hurricanes, earthquakes, wildfires and floods have ravaged large swaths of the world. While our first thoughts go to the victims of these tragic events, it may also cause you to step back and think about your own preparedness for a natural disaster.
Part II: Zero Chance of A Lottery Win
In the October/November issue of Generations Magazine, I explained that it is better to make a logical and legal argument against someone being a winner of a lottery, as opposed to showing them they are a victim of a lottery scam. The following facts prove that you...Family Peacekeeping Methods
Central to the Hawaiian culture is the value of ‘ohana,’ or family. Maintaining the “family health” was of utmost importance and was achieved through the regular practice of ho‘oponopono. In the article, “To Set Right Ho‘oponopono A Native Hawaiian Way of...An Estate Plan For your Digital Assets
You have a digital estate if you send emails, participate in Facebook and other social networking sites, do online financial transactions, play internet games, or store photos and other important files in the “cloud.” What happens to your digital estate if you become...Keep Stock Market in Perspective
The stock market has enjoyed an extended period of strong performance that dates back to the end of the last bear market in early 2009. While stock market performance can be measured in myriad ways, it’s the Dow Jones Industrial Average that has surpassed several...Zero Chance of Winning the Lottery
Over the years, I have spoken to countless people who believed they had won the lottery. They told me on the phone that they knew it was the real thing or they stopped by my office to show me letters, emails, credit cards or business checks proving they had struck it...A Wise Estate Plan Includes the ‘Whys’
Estate-planning attorneys offer three types of estate plans: the one-size-fits-all, default “state plan;” the standard “black and white” plan; or the “meaningful” estate plan. If you do nothing, the State of Hawai‘i has the Guardianship and Probate Court, which is a...Charitable Giving: Is It for You?
Public charities are not shy about asking us for money — they depend on our gifts to carry out their philanthropic purposes. Deciding which charities to support can be a difficult task, because there are many worthy causes and most of us do not have unlimited bank...Adjust Your Portfolio for a Soft Landing
Think about this analogy: When an airplane is preparing to land, it doesn’t descend 30,000 feet in a matter of seconds. Rather, it happens gradually. The pilot adjusts to the landscape and weather conditions to assure a soft landing. In the years leading up to...Part III: Sounds Too Good to Be True?
By Scott Spallina, Senior Deputy Prosecuting Attorney In the last two issues of the magazine, I shared the lessons about elder abuse that I learned from the experiences of my mother-in-law, “Mary.” As I have mentioned before, tragedies are the fuel for many a con and...The Importance of ‘The Conversation’
By Stephen B. Yim, Attorney at Law I often stare, somewhat embarrassed, at my creation of legal documents on behalf of my clients — especially after I explain my role — to clearly speak clients’ intentions at a time when they can no longer speak. Inevitably, the black...A Recipe for Family Disaster
by Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC Ingredients 1 part No estate plan established 1 part No family discussion Directions Mix vigorously, bringing it to a boil. Add unexpected ingredients to totally complicate things… Serves an...Don’t Wait to Save for Retirement
By Michael W. K. Yee, Financial Advisor and Certified Financial Planner Saving for — and even thinking about retirement can be overwhelming. While it’s natural to worry about your financial future, be careful not to let preconceived notions prevent you from actively...Part II: Beware of Pretty Packages
In the last issue, I covered the lessons my mother-in-law, “Mary,” taught me through her encounters with various scam artists she has met over the years. Unfortunately, those incidents were only the tip of the iceberg.
Reflecting on What is Important
I had been preparing to write about the importance of conversation in estate planning while watching a documentary on HBO called Cries From Syria. In the midst of this heart-wrenching story about the Syrian situation—a girl, who could not have been older than 8 or 9—facing death from starvation and preparing her will. It had nothing to do with money.
Essential Dialogue About Family Wealth
According to the Family Wealth Checkup study by Ameriprise Financial, there’s a correlation between financial confidence and communication. While many families are discussing financial issues, they tend to shy away from topics like inheritance and estate planning, leaving some with unrealistic expectations.
Estate Planning From the Inside Out
I’ve noticed that many people approach estate planning from the outside in, rather from the insideout. For example, many people want to “avoid probate” or “minimize tax” as a primary goal — good goals, for sure. If we stop there, we miss the opportunity to explore the...My Elder Abuse Teacher
It wasn’t the mainland trainings or the thousands of cases I have handled that have given me the greatest insights into elder abuse. No. The best “teacher” I have had regarding dealing with the complexity and emotional stress of dealing with these crimes has been...What Does It Mean to Be a Trustee?
A trustee is what the law calls a fiduciary. A fiduciary is a person who is responsible for taking care of something that belongs to someone else. Under the law, fiduciaries owe legally enforceable duties to the beneficiaries — the people or charities on whose behalf...Creating a Charitable Giving Strategy
It’s not too late to align your spending with your priorities. If charitable giving is an important part of your budget, take a step back and reevaluate your giving strategy. There are a myriad of causes and organizations you can support, which can leave even...‘Rocks in a Box’ & Other Crimes
Over the years, we’ve covered the devastating effects of fake lotteries that have resulted in Hawai‘i seniors losing millions of dollars (even their homes); the distressed relative scam (more commonly referred to as the “Grandma Scam”); sweetheart swindles/sham...Capturing the Heart of an Estate Plan
The usual response I receive when I ask, “What brings you here?” during an initial meeting with clients, is, “To avoid probate and minimize taxes.” Avoiding probate and taxes are good goals, and easy to resolve. The much more difficult — and much more meaningful work...Make Your Giving Go Further
Technology has made all of our lives easier. Just by using a smartphone, you can talk to people all over the world, check the weather forecast or reserve a seat on a plane. The true power of the smartphone is how it combines a myriad of tools into a single, sleek...‘Test Drive’ Your Estate Plan
Kingdom Advisors founder Ron Blue takes an interesting approach to estate planning. He advocates lifetime giving as a way to assure that the objects of your bounty are worthy recipients of your wealth. This could play out a couple of different ways. As Blue points...Control Healthcare Costs in Retirement
It’s no secret that healthcare becomes a bigger concern for most of us as we grow older. More ailments are likely to develop, which means more money is spent to visit health professionals and purchase medications. Even if you remain healthy through your later years,...Lightning Does Strike Twice
When Terry discovered his home had been burglarized, the frustration of having to replace his valuables paled in comparison to the feelings of being violated. Then, several nights later, someone entered his garage and stole his car. What Terry didn’t realize was that...Make Yours a Soulful Estate Plan
If an estate plan is our final personal and intimate letter to our loved ones, why is it that we can’t understand it when we read it? This last intimate writing should be full of our unique, personal and emotional voice, yet, it reads like a sterile contract, devoid...A Living Legacy: The Gift of Education
There are ways you can help your children and grandchildren lower the price of higher education. One of the best ways is to establish and contribute to a qualified 529 plan. Contributions grow tax-free; distributions to the student for education expenses are also free...Keeping Peace in the Family
In May of last year, Reuters reported that a Georgia judge had agreed to appoint a mediator to help the family of the late Dr. Martin Luther King Jr. decide whether to sell Dr. King’s Nobel Peace Prize and his personal Bible. Dr. King carried the Bible during the...Navigating Your First Year in Retirement
Like most Americans, you’ve probably spent years working to achieve the retirement of your dreams. There comes a point when this milestone changes from a distant goal to an imminent reality. You can make your first year away from work more rewarding and less stressful...The Hidden Costs of Probate Court
The Hidden Costs of Probate Court by Stephen B. Yim, Attorney at Law from the Oct-Nov 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Hiring Strangers as Caregivers
Hiring Strangers as Caregivers by Scott Spallina, Senior Deputy Prosecuting Attorney from the Oct-Nov 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Rollover Your IRA for Good
Rollover Your IRA for Good by Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii from the Oct-Nov 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Secret Money for Veterans
Secret Money for Veterans by Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC from the Oct-Nov 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Prepare for Retirement Milestones
Prepare for Retirement Milestones by Michael W. K. Yee, Financial Advisor and Certified Financial Planner from the Oct-Nov 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Medicare Facts You Need to Know
Medicare Facts You Need to Know by Michael W. K. Yee, Financial Advisor and Certified Financial Planner from the August-September 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Put Your Voice Into Your Estate Plan
Put Your Voice Into Your Estate Plan by Stephen B. Yim, Attorney at Law from the August-September 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Drive-By Victims: Homeless Seniors
Drive-By Victims: Homeless Seniors by Scott Spallina, Senior Deputy Prosecuting Attorney from the August-September 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Vacation With Your Important Papers
Vacation With Your Important Papers by Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC from the August-September 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Giving Retirement Assets
Giving Retirement Assets by Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii from the August-September 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Medicare Identity Theft
Medicare Identity Theft is a serious and growing problem that impacts the lives of millions of seniors every year. A variety of reasons, including the expansion of technology and the Internet, allow personal information to be stolen and sold worldwide. Furthermore,...Paying Yourself in Retirement
Paying Yourself in Retirement by Michael W. K. Yee, Financial Advisor and Certified Financial Planner from the June-May 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Will You Leave a Legacy?
Will You Leave a Legacy by Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii from the June-May 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Sycamore Row
Sycamore Row by Stephen B. Yim, Attorney at Law from the June-May 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Endowment Gift Keeps on Giving
Endowment Gift Keeps on Giving by Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC from the June-May 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life
Stop Being an Easy Victim
Stop Being an Easy Victim by Scott Spallina, Senior Deputy Prosecuting Attorney from the June-May 2016 issue of Generations Magazine, Hawai‘i’s Resource for Life