Hawaii Revised Statutes 554D-416 – Modification to achieve settlor’s tax objectives
Current as of: 2024 | Check for updates
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Terms Used In Hawaii Revised Statutes 554D-416
- Court: means the circuit court in this State having jurisdiction over all subject matter relating to trusts. See Hawaii Revised Statutes 554D-103
- Settlor: means a person, including a testator, who creates, or contributes property to, a trust. See Hawaii Revised Statutes 554D-103
- Terms of a trust: means :
(1) Except as otherwise provided in paragraph (2), the manifestation of the settlor's intent regarding a trust's provisions as: (A) Expressed in the trust instrument; or (B) Established by other evidence that would be admissible in a judicial proceeding; or (2) The trust's provisions, as established, determined, or amended by: (A) A trustee or other person in accordance with applicable law; (B) A court order; or (C) A nonjudicial settlement agreement under section -111. See Hawaii Revised Statutes 554D-103
To achieve the settlor‘s tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor’s probable intention. The court may provide that the modification has retroactive effect.