Scott Spallina, Senior Deputy Prosecuting Attorney | Oct 1, 2013 | Articles, October - November 2013, Wisdoms
When May Lee (victim’s name changed) hired Susan Chin to be her caregiver, it seemed like the perfect solution to her long-term care needs. Over time, however, when Chin gained Lee’s trust, she slowly gained access to Lee’s finances and convinced her to sign a “power...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Oct 1, 2013 | Articles, October - November 2013, Wisdoms
Just five years after the onset of the financial crisis, Americans’ confidence about retirement is rising with the strengthening economy. According to the New Retirement Mindscape® 2013 City Pulse index, two in five (42%) Americans feel on track for retirement. This...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Oct 1, 2013 | Articles, October - November 2013, Wisdoms
Many Veterans believe that they have to have suffered an in-service disability to qualify for monetary benefits from the Veterans Administration. This is a common misconception. Depending on health, income and assets, many senior Veterans (and their dependent or...
Stephen B. Yim, Attorney at Law | Oct 1, 2013 | Articles, October - November 2013, Wisdoms
You kids, don’t fight when I’m gone. These were always my Mom’s words as she left to go grocery shopping, and left my brothers and me home alone. I remember, as soon as we’d heard the car leave the garage, we would start fighting over something. Now as an adult, I...
Scott Spallina, Senior Deputy Prosecuting Attorney | Aug 1, 2013 | Articles, August - September 2013, Wisdoms
An elderly man was in the gym working out with his trainer when they saw an attractive young woman enter the workout area and begin to exercise. The older man asked his trainer what machine he should use to impress the young woman. The trainer replied he should use...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Aug 1, 2013 | Articles, August - September 2013, Wisdoms
There are several scams targeting our kupuna that you need to know about. Scam 1: The first is a nationwide scheme where new real estate owners and individuals who have recently transferred their homes into their revocable living trusts receive letters from a company...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Aug 1, 2013 | Articles, August - September 2013, Wisdoms
If you never experience chronic illness or an accident resulting in extended care, you won’t need long-term care insurance (LTCI). But, if either were to happen to you today, a nursing home in Hawai‘I could cost you $100,000 – $120,000/year and could last up to 3...
Stephen B. Yim, Attorney at Law | Aug 1, 2013 | Articles, August - September 2013, Wisdoms
Our community is facing a crisis, most recently evidenced by the Karen Okada case. The local news recently exposed this crisis, reporting that Ms. Okada made a living will in 1998 where she stated that she did not want her life to be “artificially prolonged” at “end...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Jun 1, 2013 | Articles, June - July 2013, Wisdoms
Unfortunately, too many seniors across the United States fall victim to investment fraud. It is a growing trend we see here in Hawai‘i where criminals are targeting our seniors. To protect yourself, family and other loved ones, Hawai‘i’s BBB provides a few sound tips...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Jun 1, 2013 | Articles, June - July 2013, Wisdoms
The Honolulu Star-Advertiser has featured several stories about Karen Okada, a 95-year-old woman who signed a “Death with Dignity Declaration” and a “Durable Power of Attorney for Health Care Instructions” back in 1998. Both documents purport to control “in all...
Stephen B. Yim, Attorney at Law | Jun 1, 2013 | Articles, June - July 2013, Wisdoms
Statistics reveal that about 16% of children in the United States have some sort of disability. The concerns of parents of these children are the same for most any parent and that is to make sure that their children are safe, happy, and live a meaningful life. Some of...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Jun 1, 2013 | Articles, June - July 2013, Wisdoms
The “million dollar” question many of those preparing for retirement ask themselves is simply stated but not necessarily easy to answer — “how much money do I need to save to secure a comfortable retirement?” In some circles, this is referred to as “the number” — that...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Apr 1, 2013 | April - May 2013, Articles, Wisdoms
Charitable giving can be complicated, especially when it moves beyond cash or writing a check. A recent Forbes article provides some advice you may not have considered. The article is titled “Five Ways To Be Charitable Even If You Aren’t Bill Gates.” Take heart in...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Apr 1, 2013 | April - May 2013, Articles, Wisdoms
For the past 50 years, May has been a month to appreciate and celebrate the vitality and aspirations of older Americans and their contributions to our communities. Many seniors are productive, active, and influential members of society, sharing essential talents, as...
Stephen B. Yim, Attorney at Law | Apr 1, 2013 | April - May 2013, Articles, Wisdoms
Many people think that when they retire they would be able to travel, or sit and read a book worry-free. Sadly, many also express that their experience during retirement is not at all that way. Some are caring for spouse’s who have dementia or other mental or physical...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Apr 1, 2013 | April - May 2013, Articles, Wisdoms
As the parents of boomers age, more family members are managing eldercare responsibilities. Healthcare and finances aren’t easy topics for many families to broach. In fact, research from the Money Across Generations IISM study shows that 36 percent of boomers’ parents...
Stephen B. Yim, Attorney at Law | Feb 1, 2013 | Articles, February - March 2013, Wisdoms
“My parents made a trust with a lawyer. Why is it not working and the trustee and beneficiaries are fighting over the assets?” Sadly, these are words I often hear from families who call me after the second parent dies to settle their parents’ estate. The Trust might...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Feb 1, 2013 | Articles, February - March 2013, Wisdoms
This time of year, fliers, yard signs, emails and other advertisements offering tax preparation assistance and promising bigger, faster refunds are popping up everywhere. When you alone are ultimately responsible for the information on your tax returns, how do you...
Dan Ihara (RA), Coldwell Banker, Senior Real Estate Specialist | Feb 1, 2013 | Articles, February - March 2013, Wisdoms
Many have told us that their Real Property Taxes seem to be going up. This may be true since our property taxes are a direct relation with the City’s value of the property. The higher the assessed value of your property, the higher your property taxes will be.. We...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Feb 1, 2013 | Articles, February - March 2013, Wisdoms
Speaking from experience, the relationship between financial advisors and their clients is incredibly important. Whether you rely on your advisor to help with retirement planning, saving for college, or meeting other goals, this individual will help determine how you...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Feb 1, 2013 | Articles, February - March 2013, Wisdoms
As we turn the page from 2012 to 2013, it is not a bad time to focus on your Rule Book (the set of documents in which you lay out your estate plan) and make sure that the rules you have in place are still consistent with your wishes and your needs. How often you...
Tamilyn Masuda, Health Consultant | Dec 1, 2012 | Articles, December - January 2012, Wisdoms
Our tax system for the most part remains firmly based upon the calendar year. At year-end, it’s time to take a snapshot of your income, deductions and credits. Based on that data, your tax liability for the year can be computed. If year-end strategies are implemented...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Dec 1, 2012 | Articles, December - January 2013, Wisdoms
As we turn the page from 2012 to 2013, it is not a bad time to focus on your Rule Book (the set of documents in which you lay out your estate plan) and make sure that the rules you have in place are still consistent with your wishes and your needs. How often you...
Stephen B. Yim, Attorney at Law | Dec 1, 2012 | Articles, December - January 2013, Wisdoms
QUESTION: Should I write instructions for my jewelry and other personal assets in my Will? ANSWER: Yes. The best method to use is a “Personal Property Memorandum.” State of Hawai‘i law allows you to legally make your own list of beneficiaries of tangible personal...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Dec 1, 2012 | Articles, December - January 2013, Wisdoms
The holidays are a tough time to be in need, and unfortunately there’s way too much of that going around these days. Last year the U.S. Census Bureau said that 16% of people in the States live below the poverty line and that children in 3.9 million households across...
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Dec 1, 2012 | Articles, December - January 2013, Wisdoms
An Uplifting Story If you live long enough, you are likely to have an experience that is life-altering. Right now, there are two families living on the Big Island living out just such an experience; and it started out with a casual conversation between two mothers who...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Dec 1, 2012 | Articles, December - January 2013, Wisdoms
Dos and Don’ts on Preparing for Retirement As baby boomers near retirement, many are discovering that they aren’t yet financially prepared to leave their careers. Moving from a full-time job to a life of travel, volunteer work and time spent with family and friends...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Oct 1, 2012 | Articles, October - November 2012, Wisdoms
The Honolulu Star-Advertiser has featured several stories by reporter Dan Nakaso about the plight of Karen Okada. Karen is a 95-year-old woman who signed a “Death with Dignity Declaration” and a “Durable Power of Attorney for Health Care Instructions” back in 1998....
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Oct 1, 2012 | Articles, October - November 2012, Wisdoms
A living donor offers a two-for-one gift of life Nearly 15 years ago Andrea Lee’s youngest daughter Jenevieve was diagnosed with systemic lupus erythematosus (SLE), a long-term autoimmune disorder that may affect the skin, joints, kidneys, brain and other organs....
Stephen B. Yim, Attorney at Law | Oct 1, 2012 | Articles, October - November 2012, Wisdoms
Due to recent changes in our state law, Hawai‘i is one of a handful of states that affords creditor-protection to those who hold “Tenants by the Entirety” property. Tenants by the Entirety is a method by which married couples have equal interest in a property and hold...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Oct 1, 2012 | Articles, October - November 2012, Wisdoms
If you enjoy supporting your grandchildren financially — or if this is one of your goals — you’re not alone. Eighty-four percent of seniors say that creating a financially secure life for themselves and their family is an important goal.* Yet, deciding how to best...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Oct 1, 2012 | Articles, October - November 2012, Wisdoms
How money coming in is actually going out Western Union, Moneygram and similar businesses allow you to send money quickly. Their services are useful for transmitting funds to friends, relatives and others you know well. But scammers frequently take advantage of...
Generations Magazine Staff | Aug 1, 2012 | Articles, August - September 2012, Wisdoms
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...
Stephen B. Yim, Attorney at Law | Aug 1, 2012 | Articles, August - September 2012, Wisdoms
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...
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Aug 1, 2012 | Articles, August - September 2012, Wisdoms
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...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Aug 1, 2012 | Articles, August - September 2012, Wisdoms
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...
AARP Hawaii | Aug 1, 2012 | Articles, August - September 2012, Wisdoms
Reverse mortgaging is becoming more and more popular among future retirees. The following are answers to common questions about these types of loans: So, what is a reverse mortgage? A reverse mortgage (RM) is a form of equity release. It is a loan available to...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Aug 1, 2012 | Articles, August - September 2012, Wisdoms
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....
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Jun 1, 2012 | Articles, June - July 2012, Wisdoms
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...
Stephen B. Yim, Attorney at Law | Jun 1, 2012 | Articles, June - July 2012, Wisdoms
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...
Percy Ihara, Publisher, Generations Magazine | Jun 1, 2012 | Articles, June - July 2012, Wisdoms
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,...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Jun 1, 2012 | Articles, June - July 2012, Wisdoms
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...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Jun 1, 2012 | Articles, June - July 2012, Wisdoms
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...
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Jun 1, 2012 | Articles, June - July 2012, Wisdoms
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....
AARP Hawaii | Apr 1, 2012 | Articles, Wisdoms
Since I’m now facing middle age and I have several friends who are taking care of their parents, I’ve started looking into long-term care insurance (LTCI). Also, in talking to Dot, Coach Les Murakami’s wife, for this issue’s cover story, she shared with me why she...
Stephen B. Yim, Attorney at Law | Apr 1, 2012 | Articles, Wisdoms
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...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Apr 1, 2012 | Articles, Wisdoms
Recently, across the Islands, senior citizens have become the target of “contractor” scams, where scammers perform home improvement and repairs that ultimately cheat or rip off consumers. Senior citizens are often the target of these scams primarily because they are...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Apr 1, 2012 | Articles, Wisdoms
The humor behind the classic comedy routine, Who’s on first?, comes from the fact that the speakers are using identical terms to mean different things. Yet they both pretend not to recognize the problem. The language of estate planning can raise problems for the...
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Apr 1, 2012 | Articles, Wisdoms
We all have choices to make in our lives, and if we are thoughtful about the opportunities and problems we face, some of our choices can be uplifting for our families and communities. The same can be said about our local institutions Organ Transplant Legislation...
Generations Magazine Staff | Apr 1, 2012 | Articles, Wisdoms
Many families across Hawai‘i already know how the new health care law, the Affordable Care Act, is helping them. They’ve been able to maintain health care coverage for their college-age children, or buy health insurance after being previously labeled “uninsurable.”...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Apr 1, 2012 | Articles, Wisdoms
What does this all mean? You hear it regularly in the news: “The dollar rose today against other major currencies,” or “The dollar lost ground today on foreign exchange markets.” Just like stocks or bonds, currency’s value can fluctuate in comparison to each other on...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Feb 1, 2012 | Articles, February - March 2012, Wisdoms
This year, many of us will be focusing on two things - the shrinking federal estate and gift tax “coupon” and the radical jump in transfer tax rates. The “coupon” is the amount that the Internal Revenue Code allows you to give away without having to pay gift taxes...
Stephen B. Yim, Attorney at Law | Feb 1, 2012 | Articles, February - March 2012, Wisdoms
In planning our estate, we often spend much of our energy on deciding how to distribute the home and the cash, and we often overlook the personal items. In my practice, I see families distributing large sums of money and real estate rather smoothly. Then, when it...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Feb 1, 2012 | Articles, February - March 2012, Wisdoms
It’s no secret that con-artists go where the money is. That means that schemers and scammers target citizens who are retired or who are about to retire who have been accumulating money through their retirement plans, real-estate and their personal bank accounts. The...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Feb 1, 2012 | Articles, February - March 2012, Wisdoms
According to research done by Freddie Mac, the average rate on a 30-year mortgage in the U.S. dropped below 4% for the first time ever in 2011. Rates on shorter-term, 15-year mortgages are even lower. For some, this creates a great opportunity to refinance the...
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Feb 1, 2012 | Articles, February - March 2012, Wisdoms
Getting Your Plan in Order Perhaps you’ve asked yourself questions like, “How can I plan? We just sold our home and bought a retirement condo. Our older child just moved across the country and our younger child will be getting married later this year. With so much...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Dec 1, 2011 | Articles, December - January 2012, Wisdoms
Two years ago, Hawai‘i joined Delaware, Nevada and 11 other states in validating self-settled spendthrift trusts. What this means is that you can now create a trust for yourself that will protect your assets from your own creditors. This is a huge departure from prior...
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Dec 1, 2011 | Articles, December - January 2012, Wisdoms
For many people end-of-year tax planning is a regular part of their lives. Given the com-plications that our tax system can engender, it is no wonder that taxes often impact personal goals and desires, especially during the holiday season when families are focused on...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Dec 1, 2011 | Articles, December - January 2012, Wisdoms
Investors are being forced to cope with what many perceive as unprecedented circumstances in the economic and political environment. At the same time that the U.S. economic recovery appears to be slowing, Standard & Poor downgrades the U.S. credit rating on debt...
Better Business Bureau | Dec 1, 2011 | Articles, December - January 2012, Wisdoms
Donating money to charity is one of the most selfless things a person can do. Unfortunately, criminals can easily prey on these selfless acts, using a person’s desire to help the less fortunate for their own
personal gain. Seniors should be especially mindful of...
Timothy Caminos, Director of Communications, Hawaii’s Better Business Bureau | Oct 1, 2011 | Articles, October - November 2011, Wisdoms
Telemarketing scams have in some cases become more profitable than drug trafficking. Scammers have made millions of dollars by perpetrating over-the-phone schemes. Scammers use technology to disguise their locations, telling victims they are calling from federal or...
Jeffrey B. Sisemoore, JD, National Kidney Foundation of Hawaii | Oct 1, 2011 | Articles, October - November 2011, Wisdoms
A Gift of Remembrance Have you ever owned something that became a prized possession? One of our donor’s fathers, a retired truck driver named John, purchased a new Lincoln Town Car years ago. For John, the Town Car was a special vehicle, a possession he delighted in...
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Oct 1, 2011 | Articles, October - November 2011, Wisdoms
You have spent a lifetime of earning, saving and investing — and paying income and capital gains taxes all the way along. So you may wonder why our government feels entitled to tax the value of everything that’s left when you die. The sad fact is, however, that...
Craig Watanabe, Captain Cook Coins | Oct 1, 2011 | Articles, October - November 2011, Wisdoms
So, what’s your money worth? Well, after 40 years of participating in coin & collectibles conventions, I’ve learned that the answer lies with whom you ask. Recently, buyers have offered a few hundred dollars for exceptional items worth $10,000. What happens when...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Oct 1, 2011 | Articles, October - November 2011, Wisdoms
In this economic and political environment, investors are being forced to cope with unprecedented circumstances. At the same time that our economic recovery appears to be slowing, the S&P downgrades the U.S. credit rating for the first time. Confidence that...
Bonnie Horibata | Aug 1, 2011 | Articles, August - September 2011, Wisdoms
Wouldn’t it be so easy if you knew right away who was going to take advantage of you? Sadly this is not the case, and con artists have perfected the art of scamming for generations. We can protect our friends and family by knowing our consumer rights. If someone comes...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Aug 1, 2011 | Articles, August - September 2011, Wisdoms
Are you dreaming of a leisurely retirement enjoying a second cup of morning coffee, or is a sunrise round of golf more your speed? Either way, know the facts so you can guide your retirement dreams to reality. Historically the road to retirement hasn’t been smooth for...
Ellen Kazama | Aug 1, 2011 | Articles, August - September 2011, Wisdoms
Each year thousands of caring individuals use the Charitable Gift Annuity to secure a lifetime income and provide critical financial support for Salvation Army programs and services in their communities. This time-tested technique has resulted in many gifts that...
Generations Magazine Staff | Aug 1, 2011 | Articles, August - September 2011, Wisdoms
In today’s economy, it seems that everything old is new again … albeit with a bit of a twist. Years ago, it was common for older couples – and frequently widows – to rent out rooms for extra income. Taking in boarders was a viable way to supplement income....
Scott A. Makuakane, Counselor at Law, Est8Planning Counsel LLLC | Jun 1, 2011 | Articles, June - July 2011, Wisdoms
If you are hiring a caregiver for yourself or another loved one, 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...
Bonnie Horibata | Jun 1, 2011 | Articles, June - July 2011, Wisdoms
The best protection against fraud is information and communication. Being open and aware of what’s going on in our friends’ and family’s lives; taking the time to talk about day-to-day events and even watching over each other is vital for many reasons. As much as we’d...
Michael W. K. Yee, Financial Advisor and Certified Financial Planner | Jun 1, 2011 | Articles, June - July 2011, Wisdoms
As parents age, it often becomes more difficult for them to live independently and manage their own affairs without outside help. The thought of mom or dad leaving the comfort of the family home can be a painful and challenging proposition for everyone, but when it’s...
