Category: Wisdoms

  • Adequate, Equal, Equitable or Fair?

    Parents often struggle with the concepts of equal, equitable, fairness and adequacy when it comes to the distribution of their assets among their children. Defining these terms will help us make the decision that  most closely reflects our intention.

  • Estate of Mind

    Remember the classic Abbott and Costello comedy routine, “Who’s on First?” The longer they banter, the more their  frustration grows due to their seeming lack of understanding of the game they are discussing — and hilarity ensues. Similarly, the language of estate planning can give rise to problems for the uninitiated, but the problems that…

  • Tips for Dividing an Estate

    Dividing tangible personal property is a task that often causes problems for a personal representative and between heirs. A will typically directs that property with monetary value is to be sold and the proceeds deposited into the estate account. But what happens when the property has no real value but the sentimental value is priceless?

  • Navigating Your First Year in Retirement

    Like most Americans, you’ve probably spent years working to achieve the retirement of your dreams. Then there comes a point when this career milestone changes from a distant goal to an imminent reality. You can make your first year away from work more rewarding and less stressful when you take the time to anticipate  potential…

  • The Two Asset Distribution Standards

    As an estate planning attorney, I observe how families decide to distribute their assets among their children. I have seen two main standards used to determine the gift. First is the standard of meeting needs and wants. As parents, we know the needs and wants of our children, and do our best to meet both…

  • ‘No Mom, I’m Not in Jail’

    I recently received a telephone call from my mother. Given that I was in a meeting, I didn’t answer it, but instead let it go to voicemail. Almost immediately, the phone started buzzing again from her same number. Usually, my mom would just leave a message, so this second call was very unusual. I excused…

  • Estate Taxes: What’s Around the Corner?

    After spending a lifetime of earning, saving and investing — and paying income and capital gains taxes all the way along — you may wonder why our government feels entitled to tax the value of what’s left when you die. However, the IRS and the State of Hawai‘i both want a piece of your estate.

  • Retirement Plans for Small Businesses

    If you are among the nation’s more than 31 million small businesses owners1, you likely spend much of your time juggling day-to-day business activities and put off planning for the future. If retirement planning has fallen on your back burner, now is the time to bring it to the forefront.

  • How to Choose the Best Fiduciary

    Two of the most frequently asked questions I hear are “How do I choose a trustee?” and “Am I choosing the right trustee?” Here are six criteria to help you choose the right fiduciary for you.

  • Family Business Succession Basics

    Only about 25 percent of family businesses survive for 15 years or more, and only about 25 percent of the “survivors” will survive the transition to the next generation. There are many contributing factors.