reglab/housing_qa huggingface dataset:
NH Rev Stat § 564-B:7-711 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:7-711 - Divided Trusts and Directed Trusts.

    564-B:7-711 Divided Trusts and Directed Trusts. –||(a) A divided trust is a trust in which the terms of the trust divide powers and duties among 2 or more trustees, trust advisors, and trust protectors, vesting one or more powers and duties exclusively in one or more of those persons to the exclusion of the other persons.||(b) A directed trust is trust in which, under the terms of the trust, one or more persons have the power to direct an action by a trustee, trust advisor, or trust protector or the power to veto or consent to any actual or proposed action by a trustee, trust advisor, or trust protector. The action may relate to the investment of trust assets, distributions, or any other aspects of the trust's administration.||(c) A trustee is an excluded fiduciary to the extent that the terms of the trust vest a power or duty exclusively in a trust advisor, trust protector, cotrustee, or other person.||(d) A trustee is an excluded fiduciary to the extent that:||(1) under the terms of the trust, the trustee must follow the direction of a trust advisor, trust protector, cotrustee, or other person; and||(2) the trustee acts in accordance with that direction.||(e) A trust advisor or trust protector is an excluded fiduciary to the extent that the terms of the trust vest a power or duty exclusively in a trustee, trust advisor, trust protector, or other person.||(f) A trust advisor or trust protector is an excluded fiduciary to the extent that:||(1) under the terms of the trust, the trust advisor or trust protector must follow the direction of a trustee, trust advisor, trust protector, or other person; and||(2) the trust advisor or trust protector acts in accordance with that direction.|||Source. 2006, 320:60, eff. Aug. 19, 2006. 2008, 374:13, eff. Sept. 9, 2008. 2014, 195:23, eff. July 1, 2014. 2017, 257:23, eff. July 18, 2017.|
NH Rev Stat § 564-B:7-712 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:7-712 - Vacancy in a Divided Trust or Directed Trust.

    564-B:7-712 Vacancy in a Divided Trust or Directed Trust. –||(a) Unless the terms of the trust provide otherwise, a trustee shall be vested with any power or duty that the terms of the trust otherwise vest exclusively in a trust advisor, trust protector, or cotrustee during any time when, as the result of a vacancy in the office of trust advisor, trust protector, or cotrustee, there is no person who is vested with the power or duty.||(b) Unless the terms of the trust provide otherwise, a trustee may exercise without direction any power that, under the terms of the trust, the trustee otherwise may exercise only at the direction of a trust advisor, trust protector, or cotrustee during any time when, as the result of a vacancy in the office of trust advisor, trust protector, or cotrustee, there is no person who is vested with the power to direct the trustee to exercise that power.||(c) A trustee who is vested with a power or duty under subsection (a) shall not be liable to any person for failing to exercise that power or duty during the 60-day period beginning on the date on which the trustee obtains knowledge of the vacancy.||(d) A trustee who may exercise a power under subsection (b) shall not be liable to any person for failing to exercise that power during the 60-day period beginning on the date on which the trustee obtains knowledge of the vacancy.|||Source. 2006, 320:60, eff. Aug. 19, 2006. 2017, 257:24, eff. July 18, 2017.|
NH Rev Stat § 564-B:8-801 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-801 - Duty to Administer, Invest and Manage Trust, and Distribute Trust Property.

    564-B:8-801 Duty to Administer, Invest and Manage Trust, and Distribute Trust Property. –||Upon acceptance of a trusteeship, the trustee shall administer, invest and manage the trust and distribute the trust property in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this chapter.|||Source. 2004, 130:1. 2005, 270:19, eff. Sept. 20, 2005.|
NH Rev Stat § 564-B:8-803 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-803 - Impartiality.

    564-B:8-803 Impartiality. –||If a trust has 2 or more beneficiaries, the trustee shall act impartially in administering, investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests.|||Source. 2004, 130:1, eff. Oct. 1, 2004.|
NH Rev Stat § 564-B:8-804 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-804 - Prudent Administration.

    564-B:8-804 Prudent Administration. –||A trustee shall administer, invest, and manage the trust and distribute the trust property as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.|||Source. 2004, 130:1. 2005, 270:22, eff. Sept. 20, 2005.|
NH Rev Stat § 564-B:8-805 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-805 - Costs of Administration.

    564-B:8-805 Costs of Administration. –||In administering, investing, and managing the trust and distributing the trust property, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.|||Source. 2004, 130:1. 2005, 270:23, eff. Sept. 20, 2005.|
NH Rev Stat § 564-B:8-806 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-806 - Trustee's Skills.

    564-B:8-806 Trustee's Skills. –||A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.|||Source. 2004, 130:1, eff. Oct. 1, 2004.|
NH Rev Stat § 564-B:8-807 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-807 - Delegation by Trustee to an Agent.

    564-B:8-807 Delegation by Trustee to an Agent. –||(a) A trustee may delegate to any person, even if that person is associated or affiliated with the trustee, any duty, power, investment function, or management function that a prudent trustee of comparable skills could properly delegate under the circumstances.||(b) The trustee shall exercise reasonable care, skill, and caution in:||(1) selecting an agent;||(2) establishing the scope and terms of the delegation, consistent with the purposes of the trust 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) In performing a delegated duty, power, or function, an agent owes a duty to the trust to exercise reasonable care to comply with the scope and terms of the delegation.||(d) A trustee who complies with subsection (a) and (b) is not liable to the beneficiaries or to the trust for an action of the agent to whom the duty, power, or function was delegated.||(e) A trustee'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 trustee in his, her, or its capacity as a trustee of the trust.||(f) In the case of a trustee who is an individual, the trustee's delegation of any duty, power, or function to an agent under a power of attorney shall terminate upon the trustee's incapacity unless:||(1) The terms of the trust provide that the delegation may remain effective during the trustee's incapacity; and||(2) The power of attorney provides, that the delegation does not terminate upon the trustee's incapacity.||(g) By accepting a delegation of a duty, power, or function from a trustee 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.|||Source. 2004, 130:1. 2006, 320:62, eff. Aug. 19, 2006. 2017, 257:27, eff. July 18, 2017.|
NH Rev Stat § 564-B:8-808 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-808 - Powers to Direct.

    564-B:8-808 Powers to Direct. –||(a) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust.||(b) If the terms of a trust, an agreement of the qualified beneficiaries, or a court order, confer upon a person (other than the settlor of a revocable trust) the power to direct certain actions of the trustee, then the trustee shall act in accordance with an exercise of the power.||(c) The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust.||(d) A person who holds a power to direct is a trust advisor, except to the extent that the person is a beneficiary of the trust and, under such power, the person may direct the trustee to make distributions.|||Source. 2004, 130:1. 2006, 320:63, eff. Aug. 19, 2006. 2008, 374:16, eff. Sept. 9, 2008.|
NH Rev Stat § 564-B:8-809 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-809 - Control and Protection of Trust Property.

    564-B:8-809 Control and Protection of Trust Property. –||A trustee shall take reasonable steps to take control of and protect the trust property.|||Source. 2004, 130:1, eff. Oct. 1, 2004.|
NH Rev Stat § 564-B:8-810 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-810 - Recordkeeping and Identification of Trust Property.

    564-B:8-810 Recordkeeping and Identification of Trust Property. –||(a) A trustee shall keep adequate records of the administration of the trust.||(b) A trustee shall keep trust property separate from the trustee's own property.||(c) Except as otherwise provided in subsection (d) and in RSA 564-B:8-816(a)(7)(B), a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.||(d) If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of 2 or more separate trusts.|||Source. 2004, 130:1. 2005, 270:24, eff. Sept. 20, 2005.|
NH Rev Stat § 564-B:8-811 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-811 - Enforcement and Defense of Claims.

    564-B:8-811 Enforcement and Defense of Claims. –||A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.|||Source. 2004, 130:1, eff. Oct. 1, 2004.|
NH Rev Stat § 564-B:8-812 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-812 - Collecting Trust Property.

    564-B:8-812 Collecting Trust Property. –||(a) A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee.||(b) Except as otherwise provided under the terms of the trust, the trustee shall take reasonable steps to redress a breach of trust known to the trustee to have been committed by a cotrustee or a former trustee.||(c) Except as otherwise provided under the terms of the trust, the trustee shall take reasonable steps to redress a breach of trust actually known to the trustee to have been committed by a trust advisor, a former trust advisor, a trust protector, or a former trust protector. This subsection does not impose upon a trustee who is an excluded fiduciary any duty to monitor, duty to advise, or duty to warn as described under RSA 564-B:12-1204.||(d) A person who receives a distribution from a trust is liable to return the distribution to the extent that a court subsequently determines that the person was not entitled to the distribution.|||Source. 2004, 130:1, eff. Oct. 1, 2004. 2014, 195:24, eff. July 1, 2014.|
NH Rev Stat § 564-B:8-814 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-814 - Discretionary Powers; Tax Savings.

    564-B:8-814 Discretionary Powers;  Tax Savings. –||(a) Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as "absolute," "sole," or "uncontrolled," the trustee shall exercise a discretionary power in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries.||(b) Subject to the provisions of paragraph (a), if a distribution to or for the benefit of a beneficiary is subject to the exercise of the trustee's discretion, whether or not the terms of a trust include a standard to guide the trustee in making distribution decisions, then the beneficiary's interest is neither a property interest nor an enforceable right, but a mere expectancy.||(c) Subject to the provisions of paragraph (a), unless the terms of the trust expressly provide otherwise, if the terms of a trust permit distributions among a class of beneficiaries, distributions to or for the benefit of whom are subject to the exercise of the trustee's discretion without a standard to guide the trustee in making distribution decisions, then the trustee may make distributions unequally among the beneficiaries and may make distributions entirely to one beneficiary to the exclusion of the other beneficiaries.||(d) Subject to paragraph (f), and unless the terms of the trust expressly indicate that a rule in this paragraph does not apply:||(1) a person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee a power to make discretionary distributions to or for the trustee's personal benefit may exercise the power only in accordance with an ascertainable standard; and||(2) a trustee may not exercise a power to make discretionary distributions to satisfy a legal obligation of support that the trustee personally owes another person.||(e) A power whose exercise is limited or prohibited by paragraph (d) may be exercised by a majority of the remaining trustees whose exercise of the power is not so limited or prohibited. If the power of all trustees is so limited or prohibited, the court may appoint a special trustee with authority to exercise the power.||(f) Paragraph (d) does not apply to:||(1) a power held by the settlor's spouse who is the trustee of a trust for which a marital deduction was previously allowed under section 2056(b)(5) or 2523(e) of the Internal Revenue Code;||(2) any trust during any period that the trust may be revoked or amended by its settlor; or||(3) a trust if contributions to the trust qualify for the annual exclusion under section 2503(c) of the Internal Revenue Code.|||Source. 2004, 130:1. 2005, 270:26. 2006, 320:65, eff. Aug. 19, 2006. 2008, 374:15, eff. Sept. 9, 2008.|
NH Rev Stat § 564-B:8-815 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-815 - General Powers of Trustee.

    564-B:8-815 General Powers of Trustee. –||(a) A trustee, without authorization by the court, may exercise:||(1) powers conferred by the terms of the trust; and||(2) except as limited by the terms of the trust:||(A) all powers over the trust property which an unmarried competent owner has over individually owned property;||(B) any other powers appropriate to achieve the proper administration, investment, management, and distribution of the trust property; and||(C) any other powers conferred by this chapter or other laws of this state.||(b) The exercise of a power is subject to the fiduciary duties prescribed by this article.||(c) The powers of a trustee are subject to the provisions of RSA 564-A:3, IV.|||Source. 2004, 130:1. 2005, 270:27, eff. Sept. 20, 2005.|
NH Rev Stat § 564-B:8-817 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:8-817 - Distribution upon Termination.

    564-B:8-817 Distribution upon Termination. –||(a) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within 30 days after the proposal was sent but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.||(b) Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes.||(c) A release by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:||(1) it was induced by improper conduct of the trustee; or||(2) beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.||(d) A person who receives a distribution from a trust that has terminated is liable to return the distribution to the extent that a court subsequently determines that the person was not entitled to the distribution.|||Source. 2004, 130:1, eff. Oct. 1, 2004. 2014, 195:26, eff. July 1, 2014.|
NH Rev Stat § 564-B:9-901 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:9-901 - Prudent Investor Rule.

    564-B:9-901 Prudent Investor Rule. –||(a) Except as otherwise provided in subsection (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this chapter.||(b) The prudent investor rule may be expanded, restricted, eliminated, or otherwise altered by the terms of the trust except as provided in RSA 564-B:1-105(b)(2) and (3). A trustee is not liable to a beneficiary to the extent that the trustee acted in good faith and reasonable reliance on (1) the express terms of the trust, (2) a court order, (3) RSA 564-B:9-903, or (4) RSA 564-B:9-902(c)(10).|||Source. 2004, 130:1. 2005, 270:31. 2006, 320:66, eff. Aug. 19, 2006. 2021, 103:4, eff. Aug. 30, 2021.|
NH Rev Stat § 564-B:9-903 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:9-903 - Diversification.

    564-B:9-903 Diversification. –||A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.|||Source. 2004, 130:1, eff. Oct. 1, 2004.|
NH Rev Stat § 564-B:9-904 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:9-904 - Duties at Inception of Trusteeship.

    564-B:9-904 Duties at Inception of Trusteeship. –||Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.|||Source. 2004, 130:1, eff. Oct. 1, 2004.|
NH Rev Stat § 564-B:9-905 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:9-905 - Reviewing Compliance.

    564-B:9-905 Reviewing Compliance. –||(a) Compliance with the prudent investor rule is determined:||(1) in light of the facts and circumstances existing at the time of a trustee's decision or action and not by hindsight; and||(2) by the trustee's conduct and not by the return realized from the investment and management of the trust assets.||(b) A trustee's failure to realize a return that equals or exceeds any financial index is not evidence of a trustee's failure to comply with the prudent investor rule.|||Source. 2004, 130:1, eff. Oct. 1, 2004. 2014, 195:28, eff. July 1, 2014.|
NH Rev Stat § 564-B:9-906 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:9-906 - Language Invoking Standard of Article.

    564-B:9-906 Language Invoking Standard of Article. –||The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this article: "investments permissible by law for investment of trust funds," "legal investments," "authorized investments," "using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital," "prudent man rule," "prudent trustee rule," "prudent person rule," and "prudent investor rule."|||Source. 2004, 130:1, eff. Oct. 1, 2004.|
NH Rev Stat § 564-B:9-907 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:9-907 - Governing Law.

    564-B:9-907 Governing Law. –||The provisions of article 9 of this code shall be construed as pertaining to the administration of a trust and as applicable to any trust that is administered in this state or that is governed by the laws of this state.|||Source. 2008, 374:17, eff. Sept. 9, 2008.|
NH Rev Stat § 564-B:10-1001 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-B - New Hampshire Trust Code|Section 564-B:10-1001 - Remedies for Breach of Trust

    564-B:10-1001 Remedies for Breach of Trust –||(a) A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust.||(b) To remedy a breach of trust that has occurred or may occur, the court may:||(1) compel the trustee to perform the trustee's duties;||(2) enjoin the trustee from committing a breach of trust;||(3) compel the trustee to redress a breach of trust by paying money, restoring property, or other means;||(4) order a trustee to account;||(5) appoint a special fiduciary to take possession of the trust property and administer the trust;||(6) suspend the trustee;||(7) remove the trustee as provided in RSA 564-B:7-706;||(8) reduce or deny compensation to the trustee;||(9) subject to RSA 564-B:10-1012, void an act of the trustee, impose a lien or a constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds; or||(10) order any other appropriate relief, including relief under RSA 547:3-b.|||Source. 2004, 130:1, eff. Oct. 1, 2004.|