HRS §554B-6
Multiple beneficiaries, separate custodial trusts, survivorship
This section explains how a custodial trust with more than one beneficiary works. Each beneficiary gets a separate, equal share unless the trust document says otherwise. Spouses are assumed to have survivorship rights, but others only get them if the trust document says so. The trustee must keep separate accounts for each beneficiary.
beneficiariestrustees
The statute, as written — Multiple beneficiaries, separate custodial trusts, survivorship
(a) Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in transfers for benefit of husband and wife, for whom survivorship is presumed, no right of survivorship exists unless the writing creating the custodial trust specifically provides for survivorship. (Or as is required as to community property.) (b) Custodial trust property held under this chapter by the same custodial trustee for the benefit of the same beneficiary may be administered as a single custodial trust. (c) A custodial trustee of property held for more than one beneficiary shall separately account to each beneficiary as provided in sections 554B-7 and 554B-15 for the administration of the custodial trust.
Sections this one refers to
§554B-7 How a custodial trustee must manage trust property
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.