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- Hawaii Revised Statutes § 554-10 (2022) - Justia Law
(a) In the administration of any trust that is a "private foundation", as defined in section 509 of the Code or to which section 4947 of the Code applies, the following shall be prohibited: (1) Engaging in any act of "self-dealing", as defined in section 4941(d) of the Code;
- Hawai‘i’s New Uniform Trust Code: Part II - Cades Schutte
The newly adopted Hawaii Uniform Trust Code (UTC) went into effect on January 1, 2022 In this article the Trusts Estates team explains further changes to trust law in Hawaii and explaining the implications of these changes on settlors, beneficiaries, trustees, and attorneys
- Hawaii Trusts: Beneficiary Rights and Trustee Duties Explained
This article delves into the specific rights of beneficiaries and the duties imposed on trustees under Hawaiian law By examining these elements, individuals can navigate their roles within a trust, ensuring compliance and fostering transparency
- Hawaii-2022-HB186-Amended - LegiScan
The purpose of this Act is to enact the Uniform Trust Code (2018 version) in the State, with appropriate amendments to reflect Hawaii law and practice where relevant The Uniform Trust Code is a national codification of the law of trusts, which provides for greater clarity and uniformity in trust law and interpretation
- Hawai‘i Adopts New Uniform Trust Code: What is it and What Does it Mean . . .
Effective January 1, 2022, Hawai‘i will join 34 other states and the District of Columbia in adopting the Uniform Trust Code (“UTC”) The UTC is a codification of the law of trusts, bringing together common law principles, restatement of law concepts, and various pre-existing statutes governing trusts under one statutory umbrella
- Trustee compensation: Should your foundation pay? | GMA Foundations
Under current law, trustees of private foundations may be compensated in three ways They can be paid for professional services such as accounting, legal, investment and banking or for grantmaking when they serve as a staff program officer or executive director
- Hawaii Statutes on Nonprofits - ICNL
414D-16: Private foundations Except as otherwise determined by a court of competent jurisdiction, a corporation that is a private foundation as defined in section 509(a) of the Code: Shall not make any taxable expenditures as defined in section 4945(d) of the Code 414D-19: Shares of stock and dividends prohibited; compensation; distribution
- The Law Office of Samuel K. L. Suen Blog | Hawaii Estate Planning . . .
In Hawaii, Hawaii Revised Statutes Section 560:7 outlines the statutory duties and liabilities of a trustee According to Hawaii Revised Statutes Section 560:7-302, when dealing with trust assets, a trustee must act with the care of a prudent person
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