Except as provided otherwise in the custodial trust instrument, in an agreement with the beneficiary, or by court order:

(1) A custodial trustee is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;
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Terms Used In Hawaii Revised Statutes 554B-14

  • Court: means the circuit court of the State. See Hawaii Revised Statutes 554B-1
  • Custodial trust property: means an interest in property transferred to a custodial trustee under this chapter and the income from and proceeds of that interest. See Hawaii Revised Statutes 554B-1
  • Custodial trustee: means a person designated as trustee of a custodial trust under this chapter and includes a substitute or successor custodial trustee. See Hawaii Revised Statutes 554B-1
  • Fiduciary: A trustee, executor, or administrator.
  • Trustee: A person or institution holding and administering property in trust.
(2) A custodial trustee has a noncumulative election to be made no later than six months following the end of each calendar year to charge a reasonable compensation for fiduciary services performed during that year; and
(3) A custodial trustee need not post a bond for faithful performance of the custodial trust.

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