When you first learned that your child had special needs, you may have wondered how to do your best to provide care throughout his or her life. As your child grew and you learned more about his or her disability, you may have found yourself quickly falling into a routine that allowed you to meet his or her specific needs. Now that your child has gotten older -- and you as well -- you may wonder how his or her needs will be met in the event of your passing.
If you are a small business owner in Hawaii, you know the effort and struggle it can require to actually make a business succeed. It takes planning, preparation, funding and a great business idea to really make a small business work, but the planning should not stop once you start making a profit. It is also beneficial to include your business as part of your estate plan.
One of the beautiful things about estate planning is the range of options for achieving specific goals. Whether you have a modest estate or a multitude of complex assets, there are estate planning tools to help ensure that your needs are met in later years and that your assets are protected for future generations.
If protecting assets for future generations is one of your primary goals in life, you may fear that some of your wealth will diminish or your estate will come under unnecessary scrutiny if it must go through the probate process. Because a last will and testament goes into the public record, your personal business could become known by any individual wishing to gain access to it. That is one reason you may want to consider alternative estate planning options.
If your goal is to ensure your own comfort later in life while preserving wealth for future generations, a trust may be an effective tool in your estate plan.
For property owners throughout Hawaii, matters of real estate law, business law and estate planning often intersect. To protect a real estate investment, sound guidance is needed in each of these areas of law.
Protecting your right to accept or refuse medical treatment isn't something you likely think about on a daily basis. You're young, and you just got married. You're thinking about your bright future, and none of that involves worrying about medical emergencies or being unable to make medical decisions on your own behalf.
When thinking about estate planning, most people think of a will. However, estate planning is not limited to just wills or trusts. While those documents are very important to have, you should also start thinking about assigning power of attorney and drafting this document.
Buying a home is likely the largest purchase you will make in your lifetime. Protecting your hard-earned, most valuable asset and minimizing the risk of property being legally seized is something every homeowner should think about. Should you die, a trust will help pass on your estate to your chosen beneficiaries without losing anything in probate court.