(a) A trustee may resign:

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Terms Used In Hawaii Revised Statutes 554D-705

  • 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
  • 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
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Hawaii Revised Statutes 554D-103
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Settlor: means a person, including a testator, who creates, or contributes property to, a trust. 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) For a revocable trust, upon at least thirty days’ notice to the settlor, if living, or if incapacitated, to the settlor’s duly appointed agent or conservator, if any, and all cotrustees or, if none, to the designated successor trustee or trustees;
(2) For an irrevocable trust, upon at least thirty days’ notice to the qualified beneficiaries, the settlor, if living, and all cotrustees or, if none, to the designated successor trustee or trustees; or
(3) With the approval of the court.
(b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(c) Any liability of a resigning trustee or of any sureties on the trustee’s bond for acts or omissions of the trustee is not discharged or affected by the trustee’s resignation.
(d) A trustee may seek release and discharge directly from the beneficiaries or the court.

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