Estate planning laws present great opportunities to benefit those who are important. On the other hand, many if not most of the problems which arise, usually occur because those same opportunities are overlooked or ignored. When that happens, the opportunities are much more limited and restricted.
It is for this reason, for example, that Hawaii’s probate laws must be addressed when a person dies with no planning whatsoever, or inadequate planning. The probate laws are a default mechanism imposed by the State to ensure that a person’s financial affairs are settled, in the absence of other arrangements. In those circumstances, the most significant planning opportunity for the surviving heirs might be limited to deciding whether to accept or refuse the inheritance to which they are entitled. However, what they will inherit, and the procedure for claiming the inheritance, will be governed and controlled by the Hawaii probate laws, and not you or the heirs. That process is often expensive and time-consuming.
Perhaps the best news is that probate is very easy to avoid, and there are several ways by which this can be done. Each has advantages and disadvantages. We use our collective talents, knowledge and experience to help each of our Clients address these and other concerns.
You’ve worked very hard to earn and acquire everything you own. Why leave what happens to chance?
Note: The information in this article and throughout this website is not intended, and should not under any circumstances be interpreted, as legal advice. This article is intended only as a general discussion, and should not be read or viewed as a comprehensive analysis of all relevant aspects, of each topic discussed. The reader is encouraged to consult with legal counsel for assistance with any aspect of the estate planning process, and any other matter of a legal nature.