Category: Wisdoms

  • 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 retirement, treat your investment portfolio in a similar manner. Prepare…

  • 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 when my father-in-law had his stroke, my family nearly…

  • 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 and white legal documentation looks nothing like what my clients expressed…

  • 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 entire family… to its end. A recent survey conducted by Chicago-based BMO Wealth Management confirmed that…

  • 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 saving for tomorrow. If you find yourself having one of the following doubts, consider reframing…

  • 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…

  • 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 deeper meaning underlying these goals, such as ensuring…

  • 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 through helping my mother-in-law over the years. “Mary” (not her…

  • 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 they handle assets. A trust is a legal relationship…

  • 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 the bestintentioned philanthropist confused, frustrated and overwhelmed. The following steps…