reglab/housing_qa huggingface dataset:
NH Rev Stat § 564-B:11-1104 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:11-1104 - Application to Existing Relationships.

    564-B:11-1104 Application to Existing Relationships. –||(a) Except as otherwise provided in this chapter, on the effective date of this chapter:||(1) this chapter applies to all trusts created before, on, or after its effective date;||(2) this chapter applies to all judicial proceedings concerning trusts commenced on or after its effective date;||(3) this chapter applies to judicial proceedings concerning trusts commenced before its effective date unless the court finds that application of a particular provision of this chapter would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision of this chapter does not apply and the superseded law applies;||(4) any rule of construction or presumption provided in this chapter applies to trust instruments executed before the effective date of this chapter unless there is a clear indication of a contrary intent in the terms of the trust; and||(5) an act done before the effective date of this chapter is not affected by this chapter.||(b) If a right is acquired, extinguished, or barred upon the expiration of a prescribed period that has commenced to run under any other statute before the effective date of this chapter, that statute continues to apply to the right even if it has been repealed or superseded.|||Source. 2004, 130:1. 2005, 270:33, eff. Sept. 20, 2005.|
NH Rev Stat § 564-B:12-1201 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1201 - Powers of Trust Advisors and Trust Protectors.

    564-B:12-1201 Powers of Trust Advisors and Trust Protectors. –||(a) A trust protector or trust advisor is any person, other than a trustee, who under the terms of the trust, an agreement of the qualified beneficiaries, or a court order has a power or duty with respect to a trust, including, without limitation, one or more of the following powers:||(1) the power to modify or amend the trust instrument to achieve favorable tax status or respond to changes in any applicable federal, state, or other tax law affecting the trust, including (without limitation) any rulings, regulations, or other guidance implementing or interpreting such laws;||(2) the power to amend or modify the trust instrument to take advantage of changes in the rule against perpetuities, laws governing restraints on alienation, or other state laws restricting the terms of the trust, the distribution of trust property, or the administration of the trust;||(3) the power to appoint a successor trust protector or trust advisor;||(4) the power to review and approve a trustee's trust reports or accountings;||(5) the power to change the governing law or principal place of administration of the trust;||(6) the power to remove and replace any trust advisor or trust protector for the reasons stated in the trust instrument;||(7) the power to remove a trustee, cotrustee, or successor trustee, for the reasons stated in the trust instrument, and appoint a successor;||(8) the power to consent to a trustee's or cotrustee's action or inaction in making distributions to beneficiaries;||(9) the power to increase or decrease any interest of the beneficiaries in the trust, to grant a power of appointment to one or more trust beneficiaries, or to terminate or amend any power of appointment granted in the trust; however, a modification, amendment or grant of a power of appointment may not grant a beneficial interest in a charitable trust with only charitable beneficiaries to any non-charitable interest or purpose and may not grant a beneficial interest in any trust to the trust protector or trust advisor, or to the estate or for the benefit of the creditors of such trust protector or such trust advisor;||(10) the power to perform a specific duty or function that would normally be required of a trustee or cotrustee;||(11) the power to advise the trustee or cotrustee concerning any beneficiary;||(12) the power to consent to a trustee's or cotrustee's action or inaction relating to investments of trust assets; and||(13) the power to direct the acquisition, disposition, or retention of any trust investment.||(b) To the extent that a trust advisor or trust protector exercises a power in accordance with the terms of the trust, the trust advisor's or trust protector's action is binding upon all other persons.|||Source. 2006, 320:67, eff. Aug. 19, 2006. 2008, 374:18, eff. Sept. 9, 2008. 2014, 195:32, eff. July 1, 2014.|
NH Rev Stat § 564-B:12-1202 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1202 - Trust Advisors and Trust Protectors as Fiduciaries.

    564-B:12-1202 Trust Advisors and Trust Protectors as Fiduciaries. –||(a) Except as otherwise provided under the terms of the trust, a trust advisor of a noncharitable trust or trust protector of a noncharitable trust is a fiduciary with respect to each power granted to such trust advisor or trust protector. A trust advisor of a charitable trust or a trust protector of a charitable trust is a fiduciary with respect to each power granted to that trust advisor or trust protector. Notwithstanding the breadth of discretion granted to a trust advisor or trust protector under the terms of the trust, including the use of such terms as "absolute," "sole," or "uncontrolled," a trust advisor or trust protector must exercise a discretionary power and otherwise act in good faith and in accordance with the terms of the trust, the purposes of the trust, and the interests of the beneficiaries.||(b) A trust advisor or trust protector is an excluded fiduciary with respect to each power granted or reserved exclusively to any one or more other trustees, trust advisors, or trust protectors.|||Source. 2006, 320:67, eff. Aug. 19, 2006. 2008, 374:18, eff. Sept. 9, 2008. 2014, 195:33, eff. July 1, 2014.|
NH Rev Stat § 564-B:12-1203 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1203 - Trust Advisor and Trust Protector Subject to Court Jurisdiction.

    564-B:12-1203 Trust Advisor and Trust Protector Subject to Court Jurisdiction. –||(a) By accepting an appointment to serve as a trust advisor or trust protector of a trust that has its principal place of administration in this state or, in accordance with the terms of the trust or applicable law, changes its principal place of administration to this state, the trust advisor or the trust protector shall be subject to the personal jurisdiction of the courts of this state regarding any matter involving the trust.||(b) An investment advisory agreement or other agreement is void to the extent that it purports to limit the personal jurisdiction of the courts under subsection (a).|||Source. 2006, 320:67, eff. Aug. 19, 2006. 2008, 374:18, eff. Sept. 9, 2008. 2017, 257:29, eff. July 18, 2017.|
NH Rev Stat § 564-B:12-1204 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1204 - No Duty to Review Actions of Trustee, Trust Advisor, or Trust Protector.

    564-B:12-1204 No Duty to Review Actions of Trustee, Trust Advisor, or Trust Protector. –||(a) Whenever, pursuant to the terms of a trust, an agreement of the qualified beneficiaries, or a court order, an excluded fiduciary is to follow the direction of a trustee, trust advisor, or trust protector with respect to investment decisions, distribution decisions, or other decisions of the non-excluded fiduciary, then, except to the extent that the terms of the trust, the agreement of the qualified beneficiaries, or the court order provide otherwise, the excluded fiduciary shall have no duty to:||(1) monitor the conduct of the trustee, trust advisor, or trust protector;||(2) provide advice to the trustee, trust advisor, or trust protector or consult with the trustee, trust advisor, or trust protector; or||(3) communicate with or warn or apprise any beneficiary or third party concerning instances in which the excluded fiduciary would or might have exercised the excluded fiduciary's own discretion in a manner different from the manner directed by the trustee, trust advisor, or trust protector.||(b) Absent clear and convincing evidence to the contrary, the actions of the excluded fiduciary pertaining to matters within the scope of the trustee, trust advisor, or trust protector's authority (such as confirming that the trustee, trust advisor, or trust protector's directions have been carried out and recording and reporting actions taken at the trustee, trust advisor, or trust protector's direction or other information pursuant to RSA 564-B:8-813), shall be presumed to be administrative actions taken by the excluded fiduciary solely to allow the excluded fiduciary to perform those duties assigned to the excluded fiduciary under the terms of the trust, the agreement of the qualified beneficiaries, or the court order, and such administrative actions shall not be deemed to constitute an undertaking by the excluded fiduciary to monitor the trustee, trust advisor, or trust protector or otherwise participate in actions within the scope of the trustee, trust advisor, or trust protector's authority.|||Source. 2006, 320:67, eff. Aug. 19, 2006. 2008, 374:18, eff. Sept. 9, 2008.|
NH Rev Stat § 564-B:12-1205 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1205 - Fiduciary's Liability for Action or Inaction of Trustee, Trust Advisor, and Trust Protector.

    564-B:12-1205 Fiduciary's Liability for Action or Inaction of Trustee, Trust Advisor, and Trust Protector. –||An excluded fiduciary is not liable for (i) any loss resulting from any action or inaction of a trustee, trust advisor, or trust protector or (ii) any loss that results from the failure of a trustee, trust advisor, or trust protector to take any action proposed by the excluded fiduciary where such action requires the authorization of the trustee, trust advisor, or trust protector, provided that an excluded fiduciary who had a duty to propose such action timely sought but failed to obtain the authorization.|||Source. 2006, 320:67, eff. Aug. 19, 2006. 2008, 374:18, eff. Sept. 9, 2008.|
NH Rev Stat § 564-B:12-1207 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1207 - Office of the Trust Advisor or Trust Protector.

    564-B:12-1207 Office of the Trust Advisor or Trust Protector. –||(a) A trust advisor or trust protector is subject to the same rules to which a sole trustee would be subject under this chapter in the same circumstances with respect to the following:||(1) Accepting or declining his, her, or its appointment;||(2) Vacancy and appointment of a successor;||(3) Resignation;||(4) Removal; and||(5) Compensation.||(b) A trust advisor or trust protector shall not have an obligation to give bond to secure performance of his, her, or its duties.||(c) Subject to this article 12, a trust advisor or trust protector is subject to the same rules as a sole trustee would be subject under this chapter in the same circumstances with respect to exoneration and indemnification.|||Source. 2017, 257:31, eff. July 18, 2017.|
NH Rev Stat § 564-B:12-1208 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1208 - Delegation to an Agent.

    564-B:12-1208 Delegation to an Agent. –||(a) A trust advisor or trust protector may delegate to any person, even if that person is associated or affiliated with the trust advisor or trust protector, any duty or power that a prudent trust advisor or trust protector of comparable skills and having the same power or duty could properly delegate under the circumstances.||(b) In delegating to an agent, a trust advisor or trust protector shall exercise reasonable care, skill, and caution in:||(1) Selecting an agent;||(2) Establishing the scope and terms of the delegation, consistent with the trust's purposes and the terms of the trust; and||(3) Periodically reviewing the agent's actions for the purpose of monitoring the agent's performance and compliance with the scope and terms of the delegation.||(c) The exercise of a power includes the performance of any function involving that power.||(d) A trust advisor or trust protector who complies with subsections (a) and (b) is not liable to the beneficiaries or to the trust for an action of the agent to whom the power or duty was delegated.||(e) In performing a delegated duty of power, an agent owes a duty to the trust to exercise reasonable care to comply with the scope and terms of the delegation.||(f) A trust advisor's or trust protector's delegation of a duty, power, or function to an agent under a power of attorney shall not be valid unless the power of attorney expressly refers to the trust advisor or trust protector in his, her, or its capacity as a trust advisor or trust protector of the trust.||(g) In the case of a trust advisor or trust protector who is an individual, the trust advisor's or trust protector's delegation of any duty, power, or function to an agent under a power of attorney shall terminate upon the trust advisor's or trust protector's incapacity unless:||(1) The terms of the trust provide that the delegation may remain effective during the trust advisor's or trust protector's incapacity; and||(2) The power of attorney provide that the delegation does not terminate upon the trust advisor's or trust protector's incapacity.||(h) By accepting a delegation of any duty or power from a trust advisor or trust protector of a trust that has its principal place of administration in this state or subsequently changes its principal place of administration to this state, an agent shall be subject to the personal jurisdiction of the courts of this state regarding any matter involving the trust.||(i) This section does not apply to the delegation of a duty or power to a trustee, trust advisor, or trust protector to the extent that, under the terms of the trust, the trustee, trust advisor, or trust protector is vested with the delegated duty or power.|||Source. 2017, 257:31, eff. July 18, 2017.|
NH Rev Stat § 564-B:12-1209 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1209 - Delegation to a Trustee, Trust Advisor, or Trust Protector.

    564-B:12-1209 Delegation to a Trustee, Trust Advisor, or Trust Protector. –||(a) Subject to subsection (b), a trust advisor or trust protector may delegate to any trustee, trust advisor, or trust protector, even if that person is associated or affiliated with the trust advisor or trust protector, any duty or power that a prudent trust advisor or trust protector of comparable skills could properly delegate under the circumstances.||(b) A trust advisor or trust protector may not delegate any duty or power that the settlor reasonably expected the trust advisor or trust protector to perform jointly with each trustee, trust advisor, and trust protector who also is vested with that duty or power.||(c) The exercise of a power includes the performance of any function involving that power.||(d) Unless a delegation was irrevocable, a trust advisor or trust protector may revoke a delegation previously made.|||Source. 2017, 257:31, eff. July 18, 2017.|
NH Rev Stat § 564-B:12-1210 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:12-1210 - Employing Attorneys, Agents, and Other Persons.

    564-B:12-1210 Employing Attorneys, Agents, and Other Persons. –||(a) A trust advisor or trust protector shall have the power to employ any attorney or other person, even if the person is affiliated or associated with the trust advisor or trust protector, to advise the trust advisor or trust protector in the performance of the trust advisor's or trust protector's duties.||(b) To the extent consistent with the scope and nature of a trust advisor's or trust protector's powers and duties under the terms of the trust, the trust advisor or trust protector shall have the power to employ any agent or other person, even if the person is affiliated or associated with the trust advisor or trust protector, to assist the trust advisor or trust protector in the performance of the trust advisor's or trust protector's duties.||(c) The reasonable compensation of a person whom a trust advisor or trust protector employs under subsection (a) or (b) is an expense incurred in the administration of the trust.|||Source. 2017, 257:31, eff. July 18, 2017.|
NH Rev Stat § 564-C:1-101 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:1-101 - Short Title.

    564-C:1-101 Short Title. –||This chapter may be cited as the Uniform Principal and Income Act.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:1-103 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:1-103 - Fiduciary Duties; General Principles.

    564-C:1-103 Fiduciary Duties;  General Principles. –||(a) In allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of articles 2 and 3, a fiduciary:||(1) shall administer a trust or estate in accordance with the terms of the trust or the will, even if there is a different provision in this chapter;||(2) may administer a trust or estate by the exercise of a discretionary power of administration given to the fiduciary by the terms of the trust or the will, even if the exercise of the power produces a result different from a result required or permitted by this chapter and no inference that the fiduciary has improperly exercised the discretion arises from the fact that the fiduciary has made an allocation contrary to the provisions of this chapter;||(3) shall administer a trust or estate in accordance with this chapter if the terms of the trust or the will do not contain a different provision or do not give the fiduciary a discretionary power of administration; and||(4) shall add a receipt or charge a disbursement to principal to the extent that the terms of the trust and this chapter do not provide a rule for allocating the receipt or disbursement to or between principal and income.||(b) In exercising the power to adjust under RSA 564-C:1-104(a), the power to convert into a unitrust or reconvert or change the unitrust payout percentage pursuant to RSA 564-C:1-106 or a discretionary power of administration regarding a matter within the scope of this chapter, whether granted by the terms of a trust, a will, this chapter or other applicable law, a fiduciary shall administer a trust or estate impartially, based on what is fair and reasonable to all of the beneficiaries, except to the extent that the terms of the trust or the will express an intention that the fiduciary shall or may favor one or more of the beneficiaries. The exercise of discretion by a fiduciary in accordance with this chapter is presumed to be fair and reasonable to all of the beneficiaries.|||Source. 2006, 320:68, eff. Aug. 19, 2006. 2008, 374:31, Sept. 9, 2008.|
NH Rev Stat § 564-C:2-202 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:2-202 - Distribution to Residuary and Remainder Beneficiaries.

    564-C:2-202 Distribution to Residuary and Remainder Beneficiaries. –||(a) Each beneficiary described in RSA 564-C:2-201(4) is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one distribution of assets to beneficiaries to whom this section applies, each beneficiary, including one who does not receive part of the distribution, is entitled, as of each distribution date, to the net income the fiduciary has received after the date of death or terminating event or earlier distribution date but has not distributed as of the current distribution date.||(b) In determining a beneficiary's share of net income, the following rules apply:||(1) The beneficiary is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in the undistributed principal assets immediately before the distribution date, including assets that later may be sold to meet principal obligations.||(2) The beneficiary's fractional interest in the undistributed principal assets must be calculated without regard to property specifically given to a beneficiary and property required to pay pecuniary amounts not in trust.||(3) The beneficiary's fractional interest in the undistributed principal assets must be calculated on the basis of the aggregate value of those assets as of the distribution date without reducing the value by any unpaid principal obligation.||(4) The distribution date for purposes of this section may be the date as of which the fiduciary calculates the value of the assets if that date is reasonably near the date on which assets are actually distributed.||(c) If a fiduciary does not distribute all of the collected but undistributed net income to each beneficiary as of a distribution date, the fiduciary shall maintain appropriate records showing the interest of each beneficiary in that net income.||(d) A fiduciary may apply the rules in this section, to the extent that the fiduciary considers it appropriate, to net gain or loss realized after the date of death or terminating event or earlier distribution date from the disposition of a principal asset if this section applies to the income from the asset.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:3-301 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:3-301 - When Right to Income Begins and Ends.

    564-C:3-301 When Right to Income Begins and Ends. –||(a) An income beneficiary is entitled to net income from the date on which the income interest begins. An income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to a trust or successive income interest.||(b) An asset becomes subject to a trust:||(1) on the date it is transferred to the trust in the case of an asset that is transferred to a trust during the transferor's life;||(2) on the date of a testator's death in the case of an asset that becomes subject to a trust by reason of a will, even if there is an intervening period of administration of the testator's estate; or||(3) on the date of an individual's death in the case of an asset that is transferred to a fiduciary by a third party because of the individual's death.||(c) An asset becomes subject to a successive income interest on the day after the preceding income interest ends, as determined under subsection (d), even if there is an intervening period of administration to wind up the preceding income interest.||(d) An income interest ends on the day before an income beneficiary dies or another terminating event occurs, or on the last day of a period during which there is no beneficiary to whom a trustee may distribute income.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|