Terms Used In Hawaii Revised Statutes > Chapter 554D > Part VI - Revocable Trusts

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Conservator: means a person appointed by the court to administer the estate of a minor or adult individual. See Hawaii Revised Statutes 554D-103
• Court: means the circuit court in this State having jurisdiction over all subject matter relating to trusts. See Hawaii Revised Statutes 554D-103
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See Hawaii Revised Statutes 554D-103
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Power of withdrawal: means a presently exercisable general power of appointment other than a power:
  (1) Exercisable by a trustee and limited by an ascertainable standard; or
  (2) Exercisable by another person only upon consent of the trustee or a person holding an adverse interest. See Hawaii Revised Statutes 554D-103
• Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Hawaii Revised Statutes 554D-103
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Settlor: means a person, including a testator, who creates, or contributes property to, a trust. See Hawaii Revised Statutes 554D-103
• Spouse: includes individuals who are married to each other and individuals who are reciprocal beneficiaries. 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
• Trust instrument: means an instrument executed by the settlor that contains terms of the trust, including any amendments thereto. See Hawaii Revised Statutes 554D-103
• Trustee: A person or institution holding and administering property in trust.
• Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Hawaii Revised Statutes 554D-103