Family is First for this Maui Farm BoyShoichi Tamura describes himself as an ordinary man. Husband, father of three, and insurance agent for over 40 years - in fact, he's quite extraordinary. A farm-raised Maui boy who fell in love with a Kauai girl at the University of Hawai'i at Manoa campus, he's led by example all of his life. Planning his estate, Shoichi put his family first and the charities closest to his heart second. His astute understanding of financial and tax considerations coupled with his generous heart brought him to the UH Foundation to create a philanthropic vehicle that would produce tax savings for him, financial benefit for his family, and transformational change at the University.
"Fortunately, my financial advisor and the UH Foundation knew how to design an ideal estate plan for my situation. I learned that by using charitable trusts and specific financial investments, I could avoid capital gains tax, eliminate estate tax, benefit charities that I care about, and preserve value for my family." - Soichi Tamura
Shoichi is an alumnus of the University of Hawai'i, Class of 1961, with a Bachelor of Science in Medical Technology.
Vicky Tamura is also an alumna of the University of Hawai'i, Class of 1961, with a Bachelor of Arts in Education.
Shoichi: "My grandfather, Shokichi Tamura, was a hard-working farmer who put his family first. Like my grandfather and father, I want to take care of my family. I believe this is true for every man who is a good husband and father. However, since I'm an insurance agent, I have many concerns about risk and liability."
So, when it came time to look at my estate plan and sell my appreciated investments, I thought that there was no way to escape paying capital gains tax during my lifetime or paying possible estate tax at death. My family would only get what remained. That is how my grandparents and parents did it.
Vicky, my wife, and I met at and graduated from the University of Hawai'i. The discipline gained and friendships formed have helped us throughout our lives. Now, I can give back to the University, help my church and other beloved charities, and take care of my family.
I encourage you to speak with the UH Foundation to learn more about how these plans can benefit you, your family, and your community."