Planning Tips for Local Families and Business Owners

At Sterling & Tucker, we understand that Hawaiʻi families and small business owners face unique challenges when it comes to protecting their assets, caring for loved ones, and planning for the future. From rising property values to multi-generational living and small family-run enterprises, thoughtful estate planning can make all the difference.

Here are some key tips to help you build a plan that reflects your values — and keeps your ʻohana and business secure for years to come.

1. Start with a Solid Foundation

A good estate plan begins with the basics:

  • Will or Trust – Decide how your property and assets will be managed and distributed. A living trust can help your loved ones avoid the lengthy and public probate process.

  • Power of Attorney – Designate someone you trust to handle financial matters if you’re unable to.

  • Advance Health Care Directive – Document your medical wishes and appoint someone to make health care decisions on your behalf.

Even a simple plan is better than no plan — and it can always be updated as your life evolves.

2. Protect Your Home and Real Estate

For many Hawaiʻi families, the family home is the most valuable asset. To safeguard it:

  • Title your property properly (individual, joint, or in trust).

  • Consider a Transfer on Death Deed or Living Trust to avoid probate.

  • Review how property ownership affects taxes and inheritance.

  • If you own multiple properties or rentals, a trust can streamline management and protect your beneficiaries.

3. Plan for Multi-Generational Living

ʻOhana is everything in Hawaiʻi — and many families share homes or care for aging parents. Estate planning ensures everyone’s needs are protected by:

  • Clarifying ownership and inheritance of shared property.

  • Planning for elder care and long-term care costs.

  • Setting up trust provisions to support children and grandchildren without conflict.

4. Secure Your Small Business

Whether you own a local shop, real estate venture, or professional practice, your business deserves protection.

  • Create a succession plan – Decide who will take over if you retire, become disabled, or pass away.

  • Establish clear ownership agreements – Protect your partners, employees, and heirs.

  • Integrate your business into your estate plan – Your trust or LLC should align with your personal assets and goals.

Proper business planning ensures your company can continue to serve your community — and your family — without interruption.

5. Take Advantage of Local and Federal Tax Strategies

Hawaiʻi’s estate and inheritance laws differ from other states. An experienced attorney can help you:

  • Maximize federal estate tax exemptions.

  • Minimize capital gains through smart asset transfers.

  • Use charitable gifts or foundations to support causes you care about.

  • Plan for property tax reassessments and exemptions.

6. Keep Your Plan Updated

Major life events — such as marriage, the birth of a child, buying property, or starting a business — can all impact your estate plan. Review your documents every few years or after big changes to ensure everything reflects your current wishes.

7. Work with Local Experts

Hawaiʻi laws and family structures can be complex. Working with a local estate planning attorney ensures your plan follows state requirements and reflects the realities of life here — from leasehold property to family-run businesses and multi-generational homes.

Peace of Mind for You and Your ʻOhana

Estate planning isn’t just about documents — it’s about protecting your legacy, your family, and the values you’ve built. Our team at Sterling & Tucker is here to guide you with care, clarity, and a deep understanding of Hawaiʻi’s unique needs.