HRS §525-2
When a Future Property Interest or Appointment Power Is Created
This section explains when a future property interest or a power to decide who gets property is considered created. Generally, it follows standard property law. If one person alone can become the full owner, the interest is created when that power ends. For property added to an existing trust, it is created when the original contribution was made.
beneficiariespersonal representativestrustees
The statute, as written — When nonvested property interest or power of appointment created
(a) Except as provided in subsections (b) and (c) and in section 525-5(a), the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law. (b) For the purposes of this chapter, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of a nonvested property interest or a property interest subject to a power of appointment described in section 525-1(b) or (c), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates. For the purposes of this chapter, a joint power with respect to community property under chapter 510 held by individuals married to each other is a power exercisable by one person alone. (c) For the purposes of this chapter, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.
Sections this one refers to
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