Q: Where is your office located?
A: Our office is located at 1585 Kapiolani Boulevard, Suite #1230. The best way to get there is, first, ignore the address. The office is located at the Ala Moana Pacific Center, which is located between Nordstrom and the Ala Moana Hotel. Drive into Ala Moana Shopping center, go up the ramp to the top floor directly across from Macy’s.
Also located in the same building – Vacations Hawaii, and Ameriprise, Salon 808, and many, many other well established businesses.
(Don’t worry about parking at the Shopping Center and going to the Ala Moana Pacific Center – the owners of Ala Moana Shopping Center own the Ala Moana Pacific Center, and Nordstrom, and the Ala Moana Building, etc. etc.)
Q: How much do you charge for consultations?
A: All initial consultations are free of charge.
Q: How can I make an appointment to see Mr. Young?
A: Please call Mr. Young’s office at (808) 944-1554 to schedule an appointment with his friendly staff, from Monday to Friday from 8:30 a.m. to 4:30 p.m. Or, feel free to leave a message and his staff will contact you.
Q: I sent an e-mail and did not get a response. What’s going on?
A: We recently corrected the e-mail address that was listed on this Webpage, please make sure your e-mail was sent to “email@example.com“.
Estate Planning Information:
Q: How can I learn more about Estate Planning?
A: You are more than welcome to listen in or call on Mr. Young’s live, call-in radio show, “Backyard Estate Planning” heard every Saturday afternoon, from 3:00 to 4:00 p.m. on KHVH 830 on your a.m. radio dial. The rebroadcast is Saturday evenings on KIKI 990 on your a.m. radio dial, from 11:00 a.m. to 12:00 p.m.
Q: What is the difference between a Trust and a Last Will and Testament?
A: This question is one of many that is answered weekly on Mr. Young’s live, call-in radio show, “Backyard Estate Planning.” A properly drafted trust does not need a court order to become activated. However, every Last Will and Testament needs a court order to become legally active. This process is called Probate.
Q. So what is Probate; how much does it cost, and how long does it take?
A: Probate starts with an Application or Petition – a written request to the court to declare a will to be valid and to be “the last” will; or to declare that a person died without a will. The process can typically cost $8.000 to $12,000 for the “simple” cases, and up from there, and take from 4 months to 8 months, to two years or more to complete, depending on the complexity.
Q. So what can be so complex about presenting a will to a court?
A: Probate is not supposed to be complex. But, one uncooperative beneficiary can require a hearing where none might be required. It may take 10 weeks to get a hearing that lasts for 2 minutes. A beneficiary who is underage or disabled may require a guardianship, which might hold up a probate matter until the guardianship is set up. A beneficiary may die, and then we have a probate inside of a probate. Over time, a whole list of things can happen among the beneficiaries and the assets inside a probate to drag it on and on, hearing after hearing, more and more delays and more and more attorney fees.
Q. So how do I avoid probate?
A. There are lots of ways to avoid probate – a bank account or real estate set up between two or more persons as “joint tenants” will avoid probate when one person dies. But there is a number of risks that may cause an unexpected result, and even probate after all.
Q. What are some of these so-called “risks” of holding an account or real estate as joint tenants?
A. There are plenty of risks. First and foremost, you must die in the right or correct order. You may be surprised how sometimes the older person outlives the younger person, or the sick person outlives the well person.
Second, an account held as joint tenants tells the world that these named persons own the account. There is now the risk that the “other” person get sued, or divorced, or files for bankruptcy, and the joint account gets swept into the legal mess. So, you boldly hire an attorney and fight to get your money back.
Third, even if the right person dies, the money goes to the surviving joint owner, not the decedent’s children. Hopefully all the children are on the account. If so, we hope they behave themselves and not rush to the bank “first come, first served” to get the account.
The trust avoids probate. No courts, no hearings, no delays, and, best of all, the Trust avoids all of these possible scenarios.
.Q: If I set up a Trust, will that protect me from lawsuits?
A: This question is one of many that is answered weekly on Mr. Young’s live, call-in radio show, “Backyard Estate Planning.” The answer is both a resounding no and a resounding yes, depending on a) who is setting it up; b) who is transferring assets to the trust; and c) who is being sued and his or her relationship to the trust and the assets.
Q. Is it possible to set up a trust to protect assets from lawsuits?
A. Yes. We do this all the time, every day. But, again, it depends on who and what and when.
Q. Let me ask you directly – if I set up a Trust, and transfer my assets to my trust, will the assets be protected from my lawsuits?
A. No. But, (and this is a big “but”) the trust can avoid probate and when properly written protect the assets from your children’s lawsuits. Try and do this with joint tenancy or transfer on death.
Here’s a partial list of questions addressed on Mr. Young’s weekly call in show:
Q: What is a Power of Attorney? How does it work? How does it work with a Last Will and Testament? How does it work with a revocable living trust?
Q: My parents are getting old and they will need to go to a nursing home soon. What can we do to qualify for Medicaid?
Q. If I give my house to my children to qualify for Medicaid, what happens if they get sued, divorced, or file bankruptcy? Q. My children are in their 60’s.
Q. If I give my house to my children to qualify for Medicaid, what happens if my children go to a nursing home before I do?
Q: Is Mr. Young a tax attorney. Does he do tax planning? Are there tax consequences when transferring a house for Medicaid purposes?
Q. If I give my house away what is there a way to get my home exemption for real property taxes?
Q: Attorney language can be hard to understand with all the terms used. How can I possibly understand it all?