HI SB2878

Amends Hawaii Revised Statutes Section 607-18 to allow trustees of revocable living trusts to use the statutory compensation levels to determine reasonable compensation for their services.

Authorizes individual or corporate trustees appointed under revocable living trust instruments governed by Hawaii law to rely on the existing trustee fee structure (7% on first $5,000 of income, 5% above that, plus various principal commissions) when the trust document provides for reasonable compensation.

Clarifies that the statutory fee schedule applies to revocable living trusts in the same manner it applies to estate trusts, providing a benchmark for what constitutes reasonable trustee compensation.

Takes effect upon approval of the Act.