Category: Wisdoms

  • A Conversation about Long Term Care with Michael Yee

    Generations Magazine interviewed Mike Yee on his expertise on long-term care insurance (LTCI) and to learn more about this important policy and common questions asked.

    GM: I understand you are a national leader in the LTCI industry. Could you elaborate your accomplishment?

    MY: Actually, I happen to be the # 1 LTCI producer for John Hancock in the US for 2010 and 2011, which includes some 51,000 agents nationwide. That was not something I was striving for, as I would give it up any day if it meant that more professionals understood and recommended it. The results were more a reflection of my conviction, knowing what I know now about aging and long-term care.

    GM: Is caregiving a huge problem in Hawai‘i and why? Where do you see these important long-term care issues in the future?

    MY: The number of people needing care in Hawai‘i is staggering now and will grow in the future. There is a difference between being a companion, care manager, and caregiver. Family and friends have personal and financial lives of their own, increasing the demand for private paid homecare, assisted living, and nursing home care services. How to pay for these services is the challenge. There are already concerns about not having enough money from Medicare, Medicaid, and Social Security.

    Currently, there is LTCI, life insurance with LTCI riders, and annuities with LTCI riders. Each with benefits and drawbacks; no “one size fits all.” Hawai‘i will be best served by combining public and private resources and advocating advanced financial planning for LTCI, sooner is better than later. Heading off now could be a win-win for all, better for the senior, better for the caregiver, better for the state, better for all.

    GM: Do you have LTCI and why?

    MY: At age of 54, my wife and I both own LTCI. We bought it at a time when we still have a mortgage, private school tuition, and college costs ahead of us. After a required physical to participate as assistant scoutmaster with the Boy Scouts, my doctor told me that I had high blood pressure and the beginning of diabetes. He gave me an ultimatum, “either lose 25 lbs. in the next 6 months or go on medication. Diabetes and high blood pressure can’t be felt. Left untreated, you can either have a stroke or heart attack.” Affordability and insurability have no correlation. I was smart enough to know it could happen to me; and if it did, I worry more about the ones I love and what would happen to them, than myself.

    For more information, please contact Michael W. K. Yee at (808) 952-1240

    Advisor is licensed/registered to do business with U.S. residents only in the states of Hawaii. Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.© 2010 Ameriprise Financial, Inc. All rights reserved.

    Generations Magazine interviewed Mike Yee on his expertise on long-term care insurance (LTCI) and to learn more about this important policy and common questions asked. GM: I understand you are a national leader in the LTCI industry. Could you elaborate your accomplishment? MY: Actually, I happen to be the # 1 LTCI producer for John…

  • Add the Color Into Your Estate Plan

    Leaving one’s legacy, in my opinion, involves much more than writing a Will to say who gets your things when you die. It involves reaching into your past and telling your life story including recalling specific memories, telling of family history, expressions of love and regret, and granting or requesting forgiveness. It also involves looking into the future to express values, hopes and wishes for loved ones. It is not only comforting for our loved ones to receive a personal written legacy, it can also be satisfying for you to know that your loved ones will receive your personal written legacy if you die suddenly.

    Sadly, not many individuals make a Will. Statistics reveal that about 30% of individuals make an estate plan. Significantly fewer people take the time to write a personal legacy. Understandably this is difficult to do as we must face death and pause from our fast-paced lives long enough to reflect and write. And the world now is calling to each of us to do just that. According to the 2012 Allianz Life Insurance Company of North America American Legacies Pulse Study, 86% of baby boomers said that family stories are the most important aspect of their legacy, rather than receiving assets.

    My hope for our community is that we establish this personal writing as part of a ritual in preparation of death. Long ago, our ancestors wrote their own Will. They would tap into stone admonishments such as “don’t drink, don’t smoke, marry
    a Doctor or don’t marry a Doctor.” Now things have become so complicated that people hire lawyers to write their Will for them, and in the course of writing the legal documents, the lawyer bleaches out all of the heartfelt personal statements.

    I ask my clients after they sign their estate planning documents to tell me what color they are. Perplexingly, they respond: “black and white.” Yet, everyone’s life is everything but black and white, it is colorful, full of depth, and is dynamic.

    I urge you to go beyond the legal estate plan and write your own personal legacy to put the color back into your estate plan, add your voice into your plan and provide you with peace of mind knowing that your heart will be felt. It also provides your loved ones with a lasting personal legacy providing comfort in years to come.

    I created a booklet for my clients to use to write their personal legacy, called My Heartfelt Will. I encourage each of my clients to take time out of their busy lives to sit quietly and contemplatively to write their own personal legacy. I tell them that they are doing a great job as they just completed their estate plan and are among the 30% of people to do so, and this gives them the opportunity to take the next very important step and create their own personal legacy.

    Stephen B. Yim, Attorney at Law
    2054 S. Beretania Street, Honolulu, HI 96826

    Leaving one’s legacy, in my opinion, involves much more than writing a Will to say who gets your things when you die. It involves reaching into your past and telling your life story including recalling specific memories, telling of family history, expressions of love and regret, and granting or requesting forgiveness. It also involves looking…

  • From Charity is Received Income

    If you are concerned about how your investments are performing in today’s financial markets, you are not alone. Whether you are trying to build a retirement nest egg, or already living on one, it is important to make informed choices.

    Sometimes people would like to help support the mission of an organization such as ours, but they are uncertain about what to do in the current economy. There is a way that you can help and create a more secure future for you and your family, regardless of how the economy fares. It’s called a charitable gift annuity and it is a way for you to help with the good work of a charity now and receive fixed income for the rest of your life.

    What is a Charitable Gift Annuity?

    A Charitable Gift Annuity is an agreement between you and a qualified charitable organization. When you transfer your cash or appreciated property to the charity, the charity agrees to pay you income for the rest of your life. Your payment will be fixed, which means that your income will never change. Your rate is based on your age at the time you make the agreement with the charity (or, if you decide to defer receipt of the income until a later time, the age at the time the income is to begin).

    Hawaii law requires a charity to satisfy certain requirements in order to be able to enter into a charitable gift annuity agreement. It’s important to know that the charity of your choice meets those requirements. Not every charity does.

    What are the Benefits?

    There are many benefits to establishing a Charitable Gift Annuity. In addition to fixed income for life, you will receive a charitable income tax deduction to reduce your taxes in the year you make your gift. If you make a gift of appreciated property such as stock or real estate, you may also avoid paying some of the capital gain tax on the sale of your property.

    What’s My First Step?

    Since a Charitable Gift Annuity payment rate is based upon your age, you might want to start by requesting a charitable gift annuity illustration from a charitable organization. This will give you some information and will also enable you to make sure the charity qualifies to make charitable gift annuities in Hawaii. You will then be able to evaluate your potential benefits.

    It is also a good idea to talk with your accountant or other tax advisor to determine how the tax benefits of a charitable gift annuity will fit with your overall tax situation and retirement income sources. A simple call to the planned giving office of your favorite charitable organization is a good way to get the information your accountant or other tax advisor will need to properly advise you.

    National Kidney Foundation of Hawaii
    1314 South King St., #304, Honolulu, Hawaii 96814

    808.589.5976 info@kidneyhi.org www.kidneyhi.org

    If you are concerned about how your investments are performing in today’s financial markets, you are not alone. Whether you are trying to build a retirement nest egg, or already living on one, it is important to make informed choices. Sometimes people would like to help support the mission of an organization such as ours,…

  • Planning for Incapacity

    In our lifetime, we have seen incredible advances in medical science. Think back 30 years. In 1982, a heart bypass operation was a really big deal. It meant weeks in the hospital and very risky surgery. Today, surgeons barely have to cut us open to reach into our bodies with instruments that enable them to do multiple bypass surgeries and have us out of the hospital in a matter of days. As a result of these kinds of advances, people in this country are living longer and longer. What we are finding, however, is that longer life does not necessarily mean improved quality of life.

    For a growing number of us, the chances of needing nursing home or other kinds of long term care are increasing. The average person in 2012 stands a 66% chance of being completely incapacitated for some period of time (which may or may not include a stay in a nursing home), and 25% of us will require long-term care. Planning for this eventuality is something we should all make a high priority.

    Figuring out how to finance long term care and choosing the right retirement community or nursing home involves an important set of issues that you should discuss with your financial planner, your insurance professional, and your other trusted advisors. A different, but related, set of issues arise in the legal arena.

    If you have not done this already, do not wait another day before you contact your attorney or find someone who can advise you about planning for the possibility of incapacity. The concerns break down into two categories: dealing with your person (making decisions about your medical care, your living situation, and when — if ever—to stop medical intervention), and dealing with your stuff (taking care of everything you own if you lose the ability to do it yourself).

    Both of these categories involve choosing and then legally empowering your hand-picked decision makers. Taking care of you and taking care of your stuff involve different issues, so think about whether to have the same people in charge of both. You may want one set of people or institutions to be your caretakers, and another set to be your trustees.

    At a bare minimum, you will probably want to have an Advance Health-Care Directive (AHCD), an authorization to your medical personnel to share your health information with your Health-Care Agents, and a Durable Power of Attorney (DPA). Depending on the complexity of your estate and your family situation, you may want to have other things in your estate planning toolkit, such as a will and a revocable living trust agreement.

    It is critical for you to learn your options and what kind of instructions you can give your loved ones in the event that you cannot speak for yourself. There are many good books, websites, and workshops available.

    Scott Makuakane, Attorney at Law
    Specializing in estate planning and trust law.

    www.est8planning.com
    O‘ahu: 808-587-8227, Maui: 808-891-8881
    Email: maku@est8planning.com

    In our lifetime, we have seen incredible advances in medical science. Think back 30 years. In 1982, a heart bypass operation was a really big deal. It meant weeks in the hospital and very risky surgery. Today, surgeons barely have to cut us open to reach into our bodies with instruments that enable them to…

  • Better Business Bureau: Scammers Take Advantage of Health Reform

    Con artists are always seizing on the public’s financial struggles and confusion in order to make a quick buck. Not long ago we saw them come out of the woodworks during the housing crisis and now we are seeing a pattern again as health care reform laws are upheld.

    Scammers are already trying to cash in on the fact that there is still confusion about health reform. Hawai‘i’s BBB is warning consumers that these scammers are trying to sell fake “Obamacare” policies over the phone and other health care policies under the guise of being able to be grandfathered into a policy before the Patient Protection and Affordable Care Act is “official”. Some of these scam artists have even set up toll-free numbers to sell these fake policies.

    The con-artists attempt to create a sense of urgency by telling consumers that there is a limited enrollment period and coverage is required by law. Often, these thieves can’t explain what is covered by the policy nor do they have any answers related directly to healthcare that are not very general.

    Here are a few things to keep in mind if someone solicits you about obtaining new health insurance.

    • There is no open enrollment period currently associated with the new law, so if the salesperson is pressuring you to buy the policy because the price or option is only good for a short time, be wary.
    • You may have heard that all Americans will be required to purchase health insurance under the new law, but this requirement does not go into effect until 2014 for most people. If a salesperson implies you have to purchase coverage now, hang up the phone immediately.
    • If a salesperson claims that by getting a different coverage now that you will be “grandfathered” or exempted from changes required by the health care reform law in the future. It is a red flag as this is no longer true.

    Hawai‘i’s BBB recommends that you don’t sign a contract or send money before you check out the company you plan on doing business with. Consumers have resources such as Hawai‘i’s BBB and the States Insurance Commissioner (808-586-2790, 808-586-2799, www.hawaii.gov/dcca/ins/)that they can check with before doing business with a company. Stay safe, healthy and informed!

    Complaints or Questions, contact BBB:

    808-536-6956 (O‘ahu)
    877-222-6551 (Neighbor Islands)
    www.bbb.org/file-a-complaint/

    Con artists are always seizing on the public’s financial struggles and confusion in order to make a quick buck. Not long ago we saw them come out of the woodworks during the housing crisis and now we are seeing a pattern again as health care reform laws are upheld. Scammers are already trying to cash…

  • Our Kupuna, Our Kuleana

    Decades of service protect seniors from fraud

    This year, Hawai‘i’s Better Business Bureau (BBB) will be turning 67 years old. The bureau was here from when Hawai‘i became a state to when one of its citizens became the U.S. President — and it’s still going strong. In fact, you could say that the BBB is a kupuna of local business.

    As the BBB continues to grow and serve the people of Hawai‘i, it takes on local culture, values and traditions. The bureau’s position has become much like the kupuna of Hawaiian culture; a major source of wisdom and the transmitters of knowledge and training to younger generations. Simultaneously, it helps to keep kupuna safe as consumers.

    While being the revered segment of Hawai‘i’s society, many of our kupuna are still at risk for becoming victims of fraud. According to Consumer Sentinel and the bureau’s own data, the rate of fraud against seniors continues to rise. With Hawai‘i’s senior population growing faster than the rest of the country (State of Hawai‘i Executive Office on Aging report and the 2010 US Census Data), it is safe to say that Hawai‘i’s kupuna could use every extra set of eyes and ears to help watch over them.

    Hawai‘i’s BBB, through the BBB Foundation of Hawai‘i, contributes to the protection of kupuna through various educational outreaches. It offers informational presentations to many senior clubs on O‘ahu and the Neighbor Islands. It also staffs a table at every major senior fair in the state. Additionally, it serves on the Advisory Council of the Executive Office on Aging’s Senior Medicare Patrol program.

    Hawai‘i’s BBB is the first place you come to get the answers if:

    • You are looking for an ethical business to patronize
    • You are looking for an honorable charity
    • You have questions about the trustworthiness of a business or charity
    • You have questions about a letter, email or phone call you’ve received
    • You have a complaint against a business or charity you would like resolved

    Just as the Hawaiian culture believes one’s life essence (i.e., spiritual energy and ancestral knowledge) can be transmitted through the sharing of the ha, Hawai‘i’s BBB believes that it facilitates the perpetuation of our local culture and protects kupuna through sharing knowledge with seniors and the next generation.

    Better Business Bureau of Hawai‘i
    1132 Bishop Street #615, Honolulu, HI 96813-2813
    Phone & Phone Hours: 808-536-6956 (O‘ahu) | 877-222-6551 (Neighbor Islands) | 808-628-3970 (Fax) 9:00 am – 2:00 pm, Mon. – Thurs., 9:00 am – Noon, Friday
    File Complaint: www.bbb.org/file-a-complaint/

    Decades of service protect seniors from fraud This year, Hawai‘i’s Better Business Bureau (BBB) will be turning 67 years old. The bureau was here from when Hawai‘i became a state to when one of its citizens became the U.S. President — and it’s still going strong. In fact, you could say that the BBB is a kupuna…

  • Are You a Planner?

    The end of your life begins now

    While more Americans are living longer, they will inevitably cope with one or more chronic conditions and disability. Recent statistics reveal that more than 70 percent of individuals in their 80s have some degree of dementia or diminished capacity. In order to ensure that your wishes are followed, that you are properly cared for, and that you and your family do not experience undue stress or conflict—planning is no longer just a good idea, it is imperative. And, there’s no time like the present, as the Chinese proverb so poetically suggests. Many families wait until it is too late to engage in proper planning. This leaves them and their families in a crisis, often with family members (brothers/sisters) fighting with each other, causing unnecessary stress and leaving the family member (father/mother) without proper care.

    Research is also revealing that traditional planning — estate plan, durable general power of attorney, advance healthcare directive and a trust — is sometimes not as effective as one had planned.

    There are many reasons for this, including:

    • after signing estate plans, people do not fully understand what they completed or the decisions that will have to be made in the future
    • the documents that make up an estate plan do not usually provide much guidance in and of themelves
    • our goals and preferences may change, and few people review their plans from time to time to accommodate these changes
    • the appointed agents, representatives and trustees seldom understand the maker’s wishes
    • the maker’s wishes are not entirely known, and thus not fully honored

    I suggest that we change our view so that signing one’s estate planning documents does not signify the completion of planning — rather, it represents the beginning of the planning process.

    Estate planning should be less of an “transactional model” (the making and signing of our documents) and more of a “communications model” (the start of a conversation with our family, agents, trustees and care providers, who are the central role in this estate planning process).

    “Only 29 percent of people create a living will or power of attorney for health care.”

    ~ 2007 AARP poll

    The Communications Model to estate planning involves a 5-step approach:

    1. Reflect on your personal experiences, values, desires and preferences
    2. Talk to the person you are considering appointing to make medical or financial decisions for you should you become incapacitated
    3. Appoint the person to speak for you when you are no longer able to speak. Work with a qualified estate planning attorney to create, review and tailor your advance health care directive, durable general power of attorney and trust
    4. Share your ideas, wishes and decisions regarding your financial and health care preferences with family, friends, agents, trustees, health care providers
    5. Review your estate plan from time to time to accommodate change (adding properties, changing beneficiaries, etc.).

     

    Stephen B. Yim, Attorney at Law

    2054 S. Beretania Street, Honolulu, HI 96826

    (808) 524-0251 | stephenyimestateplanning.com

    The end of your life begins now While more Americans are living longer, they will inevitably cope with one or more chronic conditions and disability. Recent statistics reveal that more than 70 percent of individuals in their 80s have some degree of dementia or diminished capacity. In order to ensure that your wishes are followed,…

  • Having ‘The Talk’ with Your Loved Ones

    Where do they want to be cared for and how?

    Recently, I reached my 50s, along with millions of other aging baby boomers. I can still remember when I was in my 20s and I thought 50 was old—really old! But, baby boomers are revolutionizing how we think about age … and, also about how we care for our post-war, baby-making parents.

    Our parents—the Greatest Generation—are living well into their 80s and 90s. As such, boomers are challenged with making caregiving decisions more than any other previous generation.

    Every week I have conversations with fellow boomers about caring for our parents. Comments run from I can’t keep taking time off from work to take my mom to the hospital and I’m tired of rushing home to fix dinner for dad to I am exhausted by the evening caregiving chores and I’m staying over nights because Dad has breathing issues and needs 24-hour care. These scenarios are typical for many families in Hawai‘i, where caregiving of some form or fashion happens in 1 in 4 households.

    Regardless of how well your parents are aging, every family needs to have to “the talk.” I suggest that adult children and parents be proactive about this. Have a plan before you are faced with a major health issue.

    If you are the adult child, ask your parents about who they’d like to take care of them, where they’ll be cared for, and how to pay for services in the case that family cannot provide adequate care.

    Women have a 79% chance of needing care, and men you are not far behind at 69%.

    ~ According to AARP

    • Do they have long-term care insurance?
    • Where are their legal papers?
    • Where are their bank accounts?
    • Do they have an attorney?

    If you are a parent, please make time to discuss caregiving with your spouse and children. Planning will ensure that you receive the care you want and deserve. If you do not plan with your children, they may have to make decisions for you … decisions that you may not agree with.

    Where do they want to be cared for and how? Recently, I reached my 50s, along with millions of other aging baby boomers. I can still remember when I was in my 20s and I thought 50 was old—really old! But, baby boomers are revolutionizing how we think about age … and, also about how…

  • Big Plans for Small Businesses

    How to plan for retirement as a small business owner

    If you’re a small-business owner, protecting yourself and your business goes beyond securing proper insurance agreements and building an emergency financial cushion — it also means ensuring that your savings will sustain you throughout retirement.

    Most people have retirement savings plans sponsored by their company, however, in the absence of such a plan, the process may be more complex. You must determine how to keep your income flowing after retirement or how to capitalize by selling your business and creating a nest egg.

    It’s never too early to begin planning for retirement and there are several things you can do as a small-business owner to prepare.

    Make saving a priority. As other financial goals or needs arise, saving for retirement may get overlooked. It’s tempting to re-invest a large portion of your profit into your business, but you may regret not socking away more savings for your personal financial security, especially if retirement comes along faster than you expected. If you don’t have a retirement savings plan, consider contributing to an IRA or other qualified investment plan. It’s less tempting to pull money from accounts that are earmarked for a specific goal.

    Develop a succession plan. It’s important to think about how to protect the resources you’ve invested into your company and plan for its future. Research the legal procedures for transferring ownership (to a family member or employee). Document in writing who you intend to take over your business after you’ve retired. There may be tax ramifications when you sell or transfer your business, so be aware of these so you can prepare for the financial impact.

    Prepare to sell. If you intend to sell your business, be realistic about its value. It’s difficult to consider accepting less than you believe it’s worth, but if you retire in a down market or sooner than you planned, you may need to compromise on an offer. Keep in mind that selling your business may be emotional. Learning about the selling process before you consider offers may make it less stressful and ensure the decisions you make are financially sound.

    Retirement can be especially confusing and complicated for small-business owners, so consider working with a professional financial advisor who can help you balance your business needs with your personal ones. Everyone has different priorities and values, but it is up to each individual to prepare for his/her own retirement. The earlier you begin planning, the easier it will be to fulfill your long-term financial goals and avoid difficult trade-offs.

    For more information, please contact Michael W. K. Yee at (808) 952-1240.

    Advisor is licensed/registered to do business with U.S. residents only in the states of Hawaii. Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients. ©2010 Ameriprise Financial, Inc. All rights reserved.

    How to plan for retirement as a small business owner If you’re a small-business owner, protecting yourself and your business goes beyond securing proper insurance agreements and building an emergency financial cushion — it also means ensuring that your savings will sustain you throughout retirement. Most people have retirement savings plans sponsored by their company, however, in…

  • Estate Plans Explained

    How Can I Be Sure My Family Won’t Fight After I’m Gone?

    Unfortunately, there is nothing you can do to guarantee that there will be no fighting among your loved ones after you are gone. There are plenty of difficult emotions to deal with after the passing of a loved one, and conflict can easily make matters much worse. Here are some steps you can take if you are concerned about whether you’ll be able to rest in peace.

    Encourage family to sit down and talk out their differences. This is central to the Hawaiian practice of ho‘oponopono. Very often, small offenses grow into large offenses if they are not resolved. Families are sometimes torn apart because problems fester, and then get aggravated by various tensions, and then hit the boiling point when a senior family member dies and is no longer there to keep the peace. Most of the estate-related litigation we see has nothing to do with the estate per se, yet it becomes the focus of battles. If you are aware of conflicts between your children, encourage resolution and forgiveness during your lifetime.

    Explain your estate plan. Include explanations for any gifts that may be misinterpreted or resented. Most of the time, we want to treat our children equally, but that does not necessarily mean giving each of them the same amount of assets when we die. If you helped one child buy a house and helped another put his children through expensive private schools, you may want to give your other children bigger shares upon your death. Providing some kind of explanation for this can head off hard feelings.

    Ask your estate planning attorney to include an in “terrorem” clause in your will and trust. As you might guess from the name, it is intended to strike terror into the heart of anyone who might be inclined to contest your estate plan. The clause can be as detailed as you like, but at a minimum, you might want to say that if anyone questions your competency or the validity of your estate plan after you are gone, they had better prove their case in court, because otherwise they will receive nothing from your estate. This kind of language can discourage many problems, but it still does not guarantee that no one will call your bluff.

    Acquaint your children with your estate plan. Make sure they understand that you are not giving up your right to change your plan in the future, but are simply giving them an idea of how your estate plan may look upon your death. Whatever you do, don’t use the explanation as an opportunity for manipulation. You may have heard the story about the lady who privately told each of her children, “When I’m gone, you’re going to get the house.” She hoped to assure that her children would treat her well during her lifetime. You can imagine what happened when she died and her children found out that the house went to Mom’s favorite charity. The biggest beneficiaries of that estate plan were the lawyers who represented the charity and each of the children.

    Most of the time, estates pass from generation to generation without conflict or hard feelings, but the subject deserves some thought if you have reason to believe that your loved ones will not see eye to eye.

    SCOTT MAKUAKANE, Attorney at Law of Est8Planning Counsel LLLC, specializing in estate planning and trust law.

    Honolulu: (808) 587-8227 | Maui: (808) 891-8881 | Email: maku@est8planning.com

    www.est8planning.com

    How Can I Be Sure My Family Won’t Fight After I’m Gone? Unfortunately, there is nothing you can do to guarantee that there will be no fighting among your loved ones after you are gone. There are plenty of difficult emotions to deal with after the passing of a loved one, and conflict can easily…

  • Time for Thanks!

    Join in on healthy, summer events

    Every once in a while an opportunity comes along to say, Thank you. We never grow too old to express our thanks, and we should graciously receive thanks from others. In truth, being thankful should be woven into the fabric of life. This is true for individuals and it is true for community organizations, such as the National Kidney Foundation of Hawai‘i (NKFH).

    This summer, with a weeklong series of free concerts, fairs and events, the NKFH would like to thank the community for its year-round support in the fight against kidney disease.

    The signature event occurs in late June when NKFH hosts the XVI International Congress on Nutrition and Metabolism in Renal Disease and First World Renal Nutrition Week, from June 26 – 30, 2012. The congress is a biannual gathering of doctors, nutritionists and medical researchers in renal disease and nutrition from around the world.

    Sixth Annual Peace on Earth Concert

    Hawai‘i Theatre – June 27, 6:45 p.m.

    Free admission; open to public

    This concert event, with Al Waterson as emcee, will feature some of Hawai‘i’s best performing artists from a variety of music genres. Among the performing artists is Ginai performing with Pierre Grill, the Thursday Night Jazz Band, the a cappella choral group known as the Samoan Gospel Heralds, Haw’n Boy Mike Ka‘awa and his band, and The Carmen Haugen Quartet.

    National Kidney Foundation of Hawai‘i Health and Craft Fair

    Hilton Hawaiian Village Hotel, Tapa Lounge – June 28, 10 a.m.– 2 p.m.

    Free admission; open to public

    The National Kidney Foundation of Hawai‘i Health and Craft Fair has two components, separately staged. The first component of the event is a craft fair featuring Hawaiian crafts made by local artisans.

    The second component is a health fair that will offer various health screenings sponsored by WE, a “hui for health” program that provides health screenings throughout Hawai‘i in conjunction with other healthcare organizations. Screenings include spirometry, glucose, kidney, hepatitis and hearing tests. While anyone can contract kidney disease, people with high blood pressure and diabetes, as well as certain ethnic groups such as Filipinos, Native Hawaiians, Japanese and others of Asian background are most at risk. A free screening can lead to early detection and treatment.

    Quilted Memories Tour

    Hilton Hawaiian Village Hotel, Tapa Lounge – June 26–  30

    Free admission; open to public

    The Quilted Memories Tour will be on display throughout the week in the Tapa Ballroom area. This tour features quilts made by families of organ donors. Each 7 x 7-inch square fabric swatch includes a “life vignette” that portrays a part of a donor’s life. Once the swatches are sewn together into a quilt, it is a powerful testimony of the ultimate gift of life. The Quilted Memories Tour is an outgrowth of the bereavement support group of the Hawai‘i Donor Family Council and is supported by the NKFH.

    If you are a medical professional and want to attend the XVI International Congress on Nutrition and Metabolism in Renal Disease, or if you would like to attend the gala and silent auction on Friday evening, June 29, please contact jeff@kidneyhi.org.

    National Kidney Foundation of Hawai‘i

    589-5976 | www.kidneyhawaii.org

    Join in on healthy, summer events Every once in a while an opportunity comes along to say, Thank you. We never grow too old to express our thanks, and we should graciously receive thanks from others. In truth, being thankful should be woven into the fabric of life. This is true for individuals and it…

  • The Third Guarantee: Change

    An often-heard quote about lifetime guarantees is the one about death and taxes. I would suggest that there is a third guarantee — that life changes. Nothing stays the same. So, once you’ve completed your estate plan, you’ll want to review it every so often to address life’s changes. What could a review with your estate planner do for you?

    First, reviewing your plan will force you to locate it. Often, after we prepare an estate plan, we put it in a very safe place. And, sometimes, we forget where that very safe place is. Take your plan out every once in a while, dust it off, review it and remind key people of its location.

    Second, a review can ensure that you’ve properly funded your trusts. Check your beneficiary designations for life insurance and retirement accounts, and make sure that other assets are properly titled in the trust. This not only helps you avoid probate, it also ensures that the correct beneficiaries receive the distributions. All too often, we find that life insurance or retirement accounts do not have beneficiaries listed, or that the beneficiary was not changed due to life changes. For example, a client’s wife recently passed away. Prior to her getting married, she had named her mother as beneficiary of a life insurance policy. She had every intention for the proceeds to go to her husband and their child. However, she did not change the beneficiary to note this change.

    Third, because relationships are fragile and change, reviewing your estate plan allows you to examine your relationship with the people you’ve named as guardian, agent under powers of attorney and trustee. Make sure that they are still the one’s that you want to make decisions for you during any period of incapacity or to follow out your instructions upon your death.

    Fourth, you can see how your beneficiaries are doing. For example, you can explore questions such as:

    • Are my children now adults and not in need of guardianship?
    • How are my young adult children doing? Do they need more time to mature before they handle a significant amount of money?
    • Have some of my beneficiaries gotten into trouble with drugs, the law or misspending of money?
    • Have marriages, new births, divorce, death or other circumstances changed relationships?

    These questions can help you determine whether you want to change the time and manner of distributions.

    Fifth, you can meet with a lawyer to get an update on any law changes, tax or otherwise. It’s an opportunity to discuss any changes in the community standards and policies as they relate to estate planning. For example, during the past couple of years, many financial institutions have established policies where they will not accept powers of attorney older than 2 or 3 years old. A couple of financial institutions have established policies that they simply will not accept powers of attorney.

    So much like with your physician, dentist, automobile mechanic and financial advisor, you will want to get an estate planning check-up and tune-up every now and then.

    Stephen B. Yim, Attorney at Law | 2054 S. Beretania Street, Honolulu, HI 96826
    (808) 524-0251 | stephenyimestateplanning.com

    An often-heard quote about lifetime guarantees is the one about death and taxes. I would suggest that there is a third guarantee — that life changes. Nothing stays the same. So, once you’ve completed your estate plan, you’ll want to review it every so often to address life’s changes. What could a review with your estate planner…