Hawaii 2022 Regular Session

Hawaii House Bill HB186

Introduced

1/22/21

Refer

1/27/21

Report Pass

2/8/21

Refer

2/8/21

Caption

Relating To The Uniform Trust Code.

Impact

The introduction of the Uniform Trust Code is anticipated to modernize Hawaii's legal framework governing trusts by offering nonjudicial options for resolving disputes and other trust-related issues. This shift could lead to quicker resolutions without the need for court proceedings in many scenarios, thereby saving time and resources for trustees and beneficiaries alike. The provisions of the UTC could replace existing statutes related to trusts, enhancing the efficiency of trust management and judicial oversight when necessary.

Summary

House Bill 186 seeks to enact the Uniform Trust Code (UTC) in Hawaii, bringing state law into alignment with this national standard for trust governance. The UTC aims to provide clearer frameworks for trust management, streamlining legal processes and reducing complexities and costs associated with trust proceedings. This integration involves amending existing state laws on trusts to ensure cohesive interpretation and application throughout the state, ultimately impacting how trusts are administered under Hawaiian law.

Sentiment

Discussions surrounding HB 186 indicate a generally supportive sentiment from the legal community and trust professionals, who believe the uniformity introduced by the UTC will simplify operations and enhance clarity in fiduciary responsibilities. However, there is a cautious note as some stakeholders express concerns about the implications of the changes on certain established practices in Hawaii's unique legal landscape. While the bill is viewed as a necessary modernization, debates point at potential disruptions in local customs and practices surrounding trust laws.

Contention

Key points of contention include how the UTC will handle specific unique local provisions currently ingrained in Hawaiian trust law and whether the shift to a more centralized system could inadvertently compromise the flexibility that local practices offer. Additionally, there are discussions about the potential impact on the rights of beneficiaries and the responsibilities of trustees in light of the new legislative framework. Ultimately, while the bill aims to provide clarity and uniformity, concerns remain regarding how it will interact with existing laws and practices.

Latest HB186 Activity

Companion Bills

No companion bills found.

Similar Bills

CT HB06441

An Act Adopting The Connecticut Uniform Trust Code.

CT SB00397

An Act Concerning Adoption Of The Uniform Trust Code, The Connecticut Uniform Directed Trust Act And The Connecticut Qualified Dispositions In Trust Act.

CT HB07104

An Act Concerning Adoption Of The Connecticut Uniform Trust Code.

PA SB1231

In trusts, further providing for definitions - UTC 103, for trust instrument controls and mandatory rules - UTC 105, for governing law - UTC 107, for situs of trust, for nonjudicial settlement agreements - UTC 111, for charitable purposes; enforcement - UTC 405, for trust for care of animal - UTC 408, for noncharitable trust without ascertainable beneficiary - UTC 409, for reformation to correct mistakes - UTC 415, for modification to achieve settlor's tax objectives - UTC 416, for spendthrift provision - UTC 502, for creditor's claim against settlor - UTC 505(a), for overdue distribution - UTC 506, for revocation or amendment of revocable trust - UTC 602, for trustee's duties and powers of withdrawal - UTC 603, for accepting or declining trusteeship - UTC 701, for trustee's bond - UTC 702, for cotrustees - UTC 703, for vacancy in trusteeship and appointment of successor - UTC 704, for resignation of trustee and filing resignation, for compensation of trustee - UTC 708, for duty to administer trust - UTC 801, for duty of loyalty - UTC 802, for powers to direct - UTC 808, for duty to inform and report, for discretionary powers and for powers of trustees - UTC 815, providing for directed trusts, further providing for remedies for breach of trust--UTC 1001, providing for nonjudicial account settlement and further providing for reliance on trust instrument - UTC 1006, for exculpation of trustee - UTC 1008, for certification of trust - UTC 1013 and for title of purchaser.