Hawaii Revised Statutes 553A-4 – Transfer by gift or exercise of power of appointment
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 553A-4
- Custodial property: means (1) any interest in property transferred to a custodian under this chapter and (2) the income from and proceeds of that interest in property. See Hawaii Revised Statutes 553A-1
- Custodian: means a person so designated under section 553A-9 or a successor or substitute custodian designated under section 553A-18. See Hawaii Revised Statutes 553A-1
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Minor: means an individual who has not attained the age of twenty-one years. See Hawaii Revised Statutes 553A-1
- Person: means an individual, corporation, organization, or other legal entity. See Hawaii Revised Statutes 553A-1
- Transfer: means a transaction that creates custodial property under section 553A-9. See Hawaii Revised Statutes 553A-1
A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to section custodial property and effecting transfer; designation of initial custodian; control” class=”unlinked-ref” datatype=”S” sessionyear=”2019″ statecd=”HI”>553A-9.