(a) A vacancy in a trusteeship occurs if:

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-704

  • Charitable trust: means a trust, or portion of a trust, created for a charitable purpose described in section -405(a). See Hawaii Revised Statutes 554D-103
  • 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
  • Fiduciary: A trustee, executor, or administrator.
  • Incapacitated: means an individual who, for reasons other than age, is unable to manage property and business affairs effectively because of an impairment in the ability to receive and evaluate information or to make or communicate decisions, even with the use of appropriate and reasonably available technological assistance or because of another physical, mental, or health impairment, or because the individual is missing, detained, or unable to return to the United States. See Hawaii Revised Statutes 554D-103
  • 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
  • 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
(1) A person designated as trustee rejects the trusteeship;
(2) A person designated as trustee cannot be identified, cannot be located, or does not exist;
(3) A trustee resigns;
(4) A trustee is disqualified, incapacitated, or removed;
(5) A trustee dies; or
(6) A guardian or conservator is appointed for an individual serving as trustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship shall be filled if the trust has no remaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled shall be filled in the following order of priority:

(1) By a person designated in the terms of the trust to act as successor trustee or a person named in the trust who has authority to appoint a successor trustee;
(2) By a person selected by unanimous agreement of the qualified beneficiaries; or
(3) By a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required to be filled shall be filled in the following order of priority:

(1) By a person designated in the terms of the trust to act as successor trustee or a person named in the trust who has authority to appoint a successor trustee;
(2) By a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the attorney general concurs in the selection; or
(3) By a person appointed by the court.
(e) Regardless of whether a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.

  Previous
Next  
 Part VII Contents