What is the perpetuity period?
The perpetuity period is the length of time an inheritance may remain in effect, and it is governed by inheritance law in each individual state. In the state of Hawaii, the general rule surrounding perpetuity periods is that it will not exceed 21 years. This means that any inheritance that goes beyond the 21-year period is considered to be invalid under the law. It also means that any property that is inherited must be disposed of within the 21-year period. In special cases, the law may allow for a longer perpetuity period, but the typical maximum in Hawaii is 21 years. The purpose of the perpetuity period is to ensure that any inherited property is not held in perpetuity and that it is passed to other persons after a certain period of time. This helps to prevent families from holding inherited property indefinitely. In addition, the perpetuity period helps to ensure that the assets of the deceased are distributed appropriately and in accordance with their wishes. Overall, the perpetuity period in Hawaii is set at a 21-year maximum in order to protect the rights of beneficiaries and to make sure that property is not held in perpetuity. It also helps to ensure that inherited property is distributed in accordance with the wishes of the deceased.
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