(a) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.
will 560x170

Ask a will, trust or estate question, get an answer ASAP!
Thousands of highly rated, verified estate & trust lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Hawaii Revised Statutes 554D-105

  • 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
  • Beneficiary: means a person who:

    (1) Has a present or future beneficial interest in a trust, vested or contingent; or
    (2) In a capacity other than that of trustee, holds a power of appointment over trust property. 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
  • Interests of the beneficiaries: means the beneficial interests provided in the terms of the trust. See Hawaii Revised Statutes 554D-103
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • Spendthrift provision: means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary's interest. 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
  • 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
  • Venue: The geographical location in which a case is tried.
(b) The terms of a trust prevail over any provision of this chapter except:

(1) The requirements for creating a trust;
(2) The duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries;
(3) The requirement that a trust and its terms be for the benefit of its beneficiaries as their interests are defined by the terms of the trust and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(4) The power of the court to modify or terminate a trust under sections -410 through -416;
(5) The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in part V;
(6) The power of the court under section -702 to require, dispense with, or modify or terminate a bond;
(7) The power of the court under section -708(b) to adjust a trustee’s compensation, specified in the terms of the trust, that is unreasonably low or high;
(8) The duty under section -813(c)(2) and (3) to notify qualified beneficiaries of an irrevocable trust of the existence of the trust, of the identity of the trustee, and of their right to request trustee reports;
(9) The duty under section -813(b) to respond to the request of a qualified beneficiary of an irrevocable trust for trustee reports and other information reasonably related to the administration of a trust;
(10) The effect of an exculpatory term under section -1008;
(11) The rights under sections -1010 through -1013 of a person other than a trustee or beneficiary;
(12) Periods of limitation for commencing a judicial proceeding;
(13) The power of the court to take action and exercise jurisdiction as may be necessary in the interests of justice; and
(14) The subject matter jurisdiction of the court and venue for commencing a proceeding, as provided in sections -203 and -204.
  Previous
Next  
 Part I Contents