Report Title:

Probate; Compensation of Personal Representative

Description:

Establishes a sliding fee schedule for compensation of personal representatives regarding the probate of wills and administration.

HOUSE OF REPRESENTATIVES

H.B. NO.

2904

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to Probate.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 560:3-719, Hawaii Revised Statutes, is amended to read as follows:

"§560:3-719 Compensation of personal representative. (a) A personal representative is entitled to reasonable compensation for the personal representative's services[.], as set forth in subsection (b), and the compensation shall be set forth in the personal representative's final accounts and shall be approved by the court as provided in section 560:3-1001 or section 560:3-1003. If a will provides for compensation of the personal representative and there is no contract with the decedent regarding compensation, the personal representative may renounce the provision before qualifying and be entitled to reasonable compensation[.], as set forth in subsection (b). A personal representative also may renounce the personal representative's right to all or any part of the compensation. A written renunciation of fee may be filed with the court.

(b) A personal representative is entitled to reasonable compensation for the ordinary services rendered by the personal representative to an estate at the following rates computed on the value of the probate assets as of the date of the death of the decedent as finally determined for federal estate tax purposes or, if none, for state inheritance tax purposes:

(1)       per cent of the first $15,000;

(2)       per cent of the next $85,000;

(3)       per cent of the next $90,000;

(4)       per cent of the next $2,000,000; and

(5)       per cent of the excess over $3,000,000.

In addition, the personal representative shall be entitled to receive       per cent of the first $5,000 of income received by the estate each year, and       per cent of the income of the estate received each year in excess of $5,000. In addition, the personal representative shall be entitled to further allowances as the court deems just and reasonable for services performed in connection with sales, leases, or management of real estate; contested or litigated claims against the estate; the preparation, adjustment, and payment of estate, inheritance, and income taxes; the carrying on of the decedent's business; litigation or settlement of disputes in regard to the estate; and any other special services as may be necessary for the personal representative to perform, prosecute, or defend."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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