Terms Used In Hawaii Revised Statutes 236D-3.5

• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Federal credit: means :

  (1) For a transfer, the maximum amount of the credit for state death taxes allowed by section 2011 of the Internal Revenue Code, as it existed on December 31, 2000, for the decedent's adjusted taxable estate;

  (2) For a generation-skipping transfer, the maximum amount of the credit for state taxes allowed by section 2604 of the Internal Revenue Code as it existed on December 31, 2000; and

  (3) For a noncitizen transfer, the maximum amount of the credit for state death taxes allowed by section 2102 of the Internal Revenue Code, as it existed on December 31, 2000, for the decedent's adjusted taxable estate. See Hawaii Revised Statutes 236D-2

• Generation-skipping transfer: means a generation-skipping transfer as defined and used in section 2611 of the Internal Revenue Code. See Hawaii Revised Statutes 236D-2
• Property: means :

  (1) For a transfer, property included in the gross estate; and

  (2) For a generation-skipping transfer, all real and personal property subject to the federal generation-skipping transfer tax. See Hawaii Revised Statutes 236D-2

• Resident: means a decedent who was domiciled in Hawaii at time of death. See Hawaii Revised Statutes 236D-2
• Transfer: means transfer as defined and used in section 2001 of the Internal Revenue Code. See Hawaii Revised Statutes 236D-2