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Join us for an insightful episode with Ethan Okura from Okura Associates Estate Planning Attorneys as we explore the critical components of estate planning. Learn about living trusts, advanced healthcare directives, and durable power of attorney, essential for protecting your assets and making crucial decisions. Discover the intricacies of wills, revocable and irrevocable trusts, probate processes in Hawaii, and the benefits of using beneficiary designations. Understand the importance of conservatorships, trusts for special needs families, and strategies for selecting trustees. We'll also delve into advanced estate tax planning techniques, including Spousal Lifetime Access Trusts (SLATs), and address federal and Hawaii state estate taxes. Real-life examples and updates from economic giants like Goldman Sachs and JP Morgan Chase are included to help you effectively manage and plan your estate.

00:00 Introduction and Podcast Overview

00:51 Understanding Yield Curve Inversion

01:33 Recent Economic Updates

02:21 Introduction to Estate Planning

03:48 Key Estate Planning Documents

04:14 Advanced Health Care Directives

05:28 Durable Power of Attorney Explained

06:39 Last Will and Testament

08:40 Revocable Trusts

17:15 Probate Process

22:58 Guardianship and Conservatorship

24:32 Supplemental Needs Trusts

28:12 Common Estate Planning Mistakes

28:58 Customizing Your Estate Plan

30:03 Choosing the Right Trustee

30:47 Avoiding Conservatorship

31:41 Understanding Estate Taxes

32:23 Federal vs. State Estate Tax Exemptions

36:12 Advanced Estate Planning Strategies

42:26 International Estate Planning Considerations

46:37 Real-Life Estate Planning Stories

50:21 Cost and Maintenance of Trusts

51:35 Conclusion and Final Thoughts

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