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RICHARD

L. HOLCOMB

Knowledgeable Experienced
Honolulu Honolulu Wills and Trusts Attorney

Here to Help!

Wills and Trusts Attorney Located in Honolulu HI.

One major concern our clients have is deciding who will inherit their property once they pass. For some people, they want their spouse to receive everything, but other clients have different goals. They might want to divide their estate evenly between children or even leave money to charity. Whatever their intentions, they need legal advice to create proper estate planning documents.

At Holcomb Law, LLC, we work with many people to create necessary wills and trusts. We can help you choose between the two or create both if that would be beneficial. Contact us to get started or schedule a consultation if you have questions.

Wills

A will serves as the centerpiece of many estate plans. This is your chance to decide who will receive property from you. You can make either specific or general requests. A specific request would be to leave your house to your daughter. A general request is to leave your daughter 1/3 of the estate. Many people make specific requests of certain assets but then divide the remainder between beneficiaries.

Without a will, your estate will pass by intestate succession. Hawaii law spells out who will receive what. Many people like the control that comes with drafting a will.

A valid will must be executed in writing and signed in front of two witnesses (who also must sign). You must be at least 18 and of sound mind.

A will is also your chance to name a person to serve as a personal representative. This representative guides your estate through probate and plays a central role in the proceedings. You can also nominate guardians for your minor children.

Trusts

Trusts are estate planning tools that have increased in popularity over the years. A trust is a legal way to hold property for someone else’s benefit. For example, you can title your home to a trust, which is managed by a trustee for the benefit of your children. You can also instruct a trustee to transfer property at your death, so trusts work as a will substitute.

Trusts can accomplish other goals that a will cannot. For example, you can avoid probate, because the trust is administered outside the probate process. A trust is also private, while a will is public.

Some trusts also protect your assets from creditors. Because the trust owns the asset—not you—you can’t lose the property if you are sued. This is a type of asset protection many of our clients seek.

Certain trusts offer tax advantages, while others help disabled children maintain eligibility for government benefits. We can review all your options and choose a trust that meets your needs.

Contact Your Honolulu Wills and Trusts Attorney

Many considerations go into deciding which estate planning documents you want. We recommend meeting with an attorney to review the most important documents. Also avoid any online forms that are not tailored to your needs. A will or trust needs to work with your entire estate plan, including assets that might pass outside probate, like life insurance or retirement accounts. Contact Holcomb Law for a consultation with an experienced Hawaii wills and trusts lawyer.

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