The limitations contained in § 554G-8 on actions by creditors to avoid permitted transfers shall not apply to:

(1) Any person to whom the transferor is indebted on account of a family court-supervised agreement or family court order for the payment of support or alimony to the transferor’s spouse, former spouse, or children, or for a division or distribution of property to the transferor’s spouse or former spouse; provided that the transferor is in default by thirty days or more of making a payment due under the agreement or order, but only to the extent of the debt and not to any claim for forced heirship, legitime, or elective share;
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Terms Used In Hawaii Revised Statutes 554G-9

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See Hawaii Revised Statutes 554G-2
  • Debt: means liability on a claim. See Hawaii Revised Statutes 554G-2
  • Former spouse: means a person to whom the transferor was married where the marriage was dissolved before the time of the permitted transfer, or person with whom the transferor was in a civil union where the civil union was dissolved before the time of the permitted transfer. See Hawaii Revised Statutes 554G-2
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Permitted transfer: means a transfer of permitted property by or from one or more transferors who own an undivided interest in the property to one or more trustees, at least one of which is a permitted trustee, by means of a trust instrument, regardless of whether consideration is exchanged. See Hawaii Revised Statutes 554G-2
  • Person: means a natural person. See Hawaii Revised Statutes 554G-2
  • Spouse: means a person to whom the transferor is married or with whom the person is party to a civil union at the time of the permitted transfer. See Hawaii Revised Statutes 554G-2
  • Transfer: means the disposition, conveyance, or assignment of property, including the change in the legal ownership of property occurring upon the substitution of one trustee for another or the addition of one or more new trustees, or the exercise of a power that causes the disposition, conveyance, or assignment of permitted property to a trustee or trustees, but shall not include the release or relinquishment of an interest in property that was formerly the subject of a permitted transfer. See Hawaii Revised Statutes 554G-2
  • Transferor: means :

    (1) An owner of permitted property;

    (2) The holder of a power of appointment that authorizes the holder to appoint in favor of the holder, the holder's creditors, the holder's estate, or the creditors of the holder's estate; or

    (3) A trustee who directly or indirectly makes a disposition of permitted property. See Hawaii Revised Statutes 554G-2

  • Trust instrument: means an irrevocable instrument appointing a permitted trustee or permitted trustees for the permitted property that is the subject of a disposition. See Hawaii Revised Statutes 554G-2
(2) Any person who suffers death, personal injury, or property damage on or before the date of a permitted transfer; provided that the death, personal injury, or property damage is determined to have been caused in whole or in part by the tortious act or omission of either the transferor or another person for whom the transferor is or was vicariously liable to the extent of the transferor’s liability or vicarious liability;
(3) Any lender who extends a secured or collateralized loan to the transferor based on the transferor’s or the transferor’s agent’s express or implied representation that the assets of a trust established under this chapter would be available as security against the loan in the event of the transferor’s default thereon;
(4) The State of Hawaii to the extent that a transfer results in the transferor being unable to meet the transferor’s tax liabilities, but only to the extent necessary to extinguish the outstanding tax liabilities; or
(5) A divorce or dissolution of marriage or civil union, for purposes of considering property subject to division under section 580-47, a transferor-beneficiary’s interest with respect to assets transferred to the trust instrument:

(A) After the transferor’s marriage or entry into a civil union; or
(B) Within thirty days prior to the transferor’s marriage or civil union unless the transferor gives written notice to the other party to the marriage or civil union of the transfer; provided that in the event of the divorce or dissolution of the marriage or civil union of a non-transferor beneficiary of the trust, the non-transferor beneficiary’s interest in the trust is not considered property subject to division under section 580-47.
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