Estate Planning for Young Families

Estate planning should begin when you begin to accumulate assets.

If you die without a trust in the state of Hawaii and you have assets that exceed $100,000, you would have to go through and informal or formal probate process.

Do you want the court to decide for your family? 

In the situation of minor children, if you become incapacitated or both parents die, the State of Hawaii is left to decide on a guardian. The court appointed person for your child is left to decide on the support, care, and distribution of your funds in your child’s interest.

A will can be deemed invalid and the court is left to decide in a public court process.

Make the hard decisions today, so your loved ones do not have to in a time of grief!

We can’t predict the future, but we can plan for the unexpected with the right help. Estate Planning is commonly prepared for couples in their 40s to 50s with a family and a home. Very seldom, have we seen a couple in their 20s to 30s that are looking to create their living trust.

Sadly, most clients that we see walk through our door, looking to establish a trust have experienced a loss with their family and were reminded in the process the importance of starting early.  

Creating an estate plan, can allow your family to know your wishes and walk them through your belongings. Understand that estate planning, is not for older adults and the wealthy, but more about peace of mind for your loved ones while they’re going through tough times.

I encourage you to have the conversation in your 20s and 30s and prepare yourself before it’s too late.

What Can a Trust Do

  • Avoid the lengthy and costly State of Hawaii probate process if funded with the help of our critical Trust Funding
  • Shelter assets from estate taxes
  • Provide Privacy. While a will becomes a public record, a trust does not.
  • Maintain control of your estate for your heirs
  • Provide for a child with special needs
  • Give a considerable contribution to your desired charity
  • Manage the disposition of assets, consistent with a person’s goals and needs

List of what you should bring to the Free Trust Review Appointment:

  • Current Trust Documents and/or Will 
  • A Summary of Assets and Liabilities
  • IRA accounts
  • Insurance Policies (Life, Health, Annuities, Disability and Homeowners)
  • Retirement 401(K)
  • Bank Account Statements
  • Deeds
  • Government Benefits
  • Tax Documents

Our Plan Attorney will provide you with a free consultation and will recommend the type of services that will be required to protect your assets.