reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:3-303 - Representation by Fiduciaries and Parents.

564-B:3-303 Representation by Fiduciaries and Parents. –
To the extent there is no conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute:
(1) a conservator may represent and bind the estate that the conservator controls;
(2) a guardian of the estate may represent and bind the estate that the guardian of the estate controls;
(3) a guardian of the person may represent and bind the ward if a guardian of the ward's estate has not been appointed;
(4) an agent having authority to act with respect to the particular question or dispute may represent and bind the principal;
(5) a trustee may represent and bind the beneficiaries of the trust except as to matters relating to the administration or distribution of the trust;
(6) a personal representative of a decedent's estate may represent and bind persons interested in the estate except as to matters relating to the administration or distribution of the estate;
(7) a parent may represent and bind (i) the parent's minor, incapacitated or unborn child if neither a guardian of the estate nor guardian of the person for the child has been appointed and (ii) a minor, incapacitated or unborn descendent of such child if neither a guardian of the estate of the descendent nor a guardian of the person of the descendent has been appointed; and
(8) a representative who is expressly appointed under the terms of the governing trust instrument, either directly or by appointment of one or more persons who are expressly authorized under the terms of the trust instrument to do so, may represent and bind one or more beneficiaries of the trust as to any matter involving the trust. A representative appointed pursuant to this paragraph shall be presumed to be a fiduciary and, unless otherwise provided under the terms of the trust, must deliver to the trustee a written acceptance of appointment as representative. A representative may not be appointed pursuant to this paragraph to represent the interests of a charitable beneficiary subject to the authority of the director of charitable trusts, as provided in statute and common law.
Source.
2004, 130:1. 2005, 270:7, eff. Sept. 20, 2005. 2008, 374:7, eff. Sept. 9, 2008. 2021, 103:1, eff. Aug. 30, 2021.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:3-304 - Representation by Person Having Substantially Identical Interest.

564-B:3-304 Representation by Person Having Substantially Identical Interest. –
Unless otherwise represented, a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person represented.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2008, 374:28, eff. Sept. 9, 2008. 2011, 243:17, eff. Sept. 11, 2011.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:3-305 - Appointment of Representative.

564-B:3-305 Appointment of Representative. –
(a) If the court determines that an interest is not represented under this article, or that the otherwise available representation might be inadequate, the court may appoint a representative to receive notice, give consent, and otherwise represent, bind, and act on behalf of a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown. A representative may be appointed to represent several persons or interests.
(b) A representative may act on behalf of the individual represented with respect to any matter arising under this chapter, whether or not a judicial proceeding concerning the trust is pending.
(c) In making decisions, a representative may consider general benefit accruing to the living members of the individual's family.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-401 - Methods of Creating Trust.

564-B:4-401 Methods of Creating Trust. –
A trust may be created by:
(1) transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death;
(2) declaration by the owner of property that the owner holds identifiable property as trustee;
(3) exercise of a power of appointment in favor of a trustee; or
(4) judgment or decree of a court.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2008, 97:4, eff. May 21, 2008.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-402 - Requirements for Creation.

564-B:4-402 Requirements for Creation. –
(a) A trust is created only if:
(1) the settlor has capacity to create a trust;
(2) the settlor indicates an intention to create the trust;
(3) the trust has a definite beneficiary or is:
(A) a charitable trust;
(B) a trust for the care of an animal, as provided in RSA 564-B:4-408; or
(C) a trust for a noncharitable purpose, as provided in RSA 564-B:4-409;
(4) the trustee has duties to perform; and
(5) the same person is not the sole trustee, the sole current beneficiary and the sole remainder beneficiary.
(b) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.
(c) A power in a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.
Source.
2004, 130:1. 2005, 270:8, eff. Sept. 20, 2005.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-402A - Duration of Trusts.

564-B:4-402A Duration of Trusts. –
(a) Unless a trust is subject to the rule against perpetuities or is a trust for the care of an animal under RSA 564-B:4-408, a trust may be perpetual or may exist for any shorter period of time.
(b) The rule against perpetuities shall not apply to a trust or any disposition of trust property if:
(1) the terms of the trust expressly exempt the trust from the application of the rule against perpetuities; and
(2) under the terms of the trust, an applicable statute, or common law, the trustee or other person to whom the power is properly granted or delegated has the power to sell, mortgage, or lease trust property for any period of time beyond the period that, if this section did not apply to the trust, would be required for an interest in the trust to vest in order to be valid under the rule against perpetuities.
(c) The rule against accumulations shall not apply to any trust to which the rule against perpetuities does not apply.
(d) Subsections (b) and (c) apply to any trust created on or after January 1, 2004. This section otherwise applies to any trust created before, on, or after the effective date of this chapter.
Source.
2014, 195:14, eff. July 1, 2014.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-403 - Trusts Created in Other Jurisdictions.

564-B:4-403 Trusts Created in Other Jurisdictions. –
A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed, or the law of the jurisdiction in which, at the time of creation:
(1) the settlor was domiciled, had a place of abode, or was a national;
(2) a trustee was domiciled or had a place of business; or
(3) any trust property was located.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-404 - Trust Purposes.

564-B:4-404 Trust Purposes. –
A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries, as their interests are defined under the terms of the trust.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2011, 243:10, eff. Sept. 11, 2011.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-405 - Charitable Purposes; Enforcement.

564-B:4-405 Charitable Purposes;  Enforcement. –
(a) A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purposes the achievement of which is beneficial to the community.
(b) If the terms of a charitable trust do not indicate a particular charitable purpose or beneficiary, the court may select one or more charitable purposes or beneficiaries. The selection must be consistent with the settlor's intention to the extent it can be ascertained.
(c) The settlor of a charitable trust or the director of charitable trusts, among others, may maintain a proceeding to enforce the trust. In any such proceeding where the director of charitable trusts is not a party, the director of charitable trusts shall be joined as a necessary party.
Source.
2004, 130:1. 2006, 320:52, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-407 - Evidence of Oral Trust.

564-B:4-407 Evidence of Oral Trust. –
Except as required by a statute other than this chapter, a trust need not be evidenced by a trust instrument, but the creation of an oral trust and its terms may be established only by clear and convincing evidence.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-408 - Trust for Care of Animal.

564-B:4-408 Trust for Care of Animal. –
(a) A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal.
(b) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed.
(c) Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor's successors in interest.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-409 - Noncharitable Trust Without Ascertainable Beneficiary.

564-B:4-409 Noncharitable Trust Without Ascertainable Beneficiary. –
Except as otherwise provided in RSA 564-B:4-408 or by another statute, the following rules apply:
(1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose.
(2) A trust authorized by this section may be enforced by a trustee, a trust advisor, a trust protector, a person appointed under the terms of the trust or, if no person is so appointed, by a person appointed by the court.
(3) Except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use, property of a trust authorized by this section may be applied only to its intended use, including appointing trust property to or for the benefit of an existing or new trust whose purposes are limited to one or more purposes of the original trust. Except as otherwise provided by the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor's successors in interest.
Source.
2004, 130:1. 2006, 320:53, eff. Aug. 19, 2006. 2008, 374:8, eff. Sept. 9, 2008.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-410 - Modification or Termination of Trust; Proceedings for Approval or Disapproval.

564-B:4-410 Modification or Termination of Trust;  Proceedings for Approval or Disapproval. –
(a) In addition to the methods of termination prescribed by RSA 564-B:4-411 through RSA 564-B:4-414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.
(b) Any of the following persons may commence a judicial proceeding to approve or disapprove a proposed modification or termination under RSA 564-B:4-411 through RSA 564-B:4-416, a proposed trust combination under RSA 564-B:4-417(a), or a proposed trust division under RSA 564-B:4-417(b):
(1) A trustee;
(2) A trust advisor or trust protector to the extent that, under the terms of the trust, the trust advisor or trust protector has:
(A) The power to modify the terms of the trust;
(B) The power to terminate the trust;
(C) The power to commence a judicial proceeding to modify the terms of the trust;
(D) The power to commence a judicial proceeding to terminate the trust;
(E) The power to direct the modification of the terms of the trust;
(F) The power to direct the termination of the trust; or
(G) Any substantially similar power;
(3) A beneficiary; or
(4) To the extent that the trust is a charitable trust, the director of charitable trusts.
(c) A settlor of a charitable trust may commence a judicial proceeding to modify the trust under RSA 564-B:4-413, and in that proceeding, the director of charitable trusts shall be a necessary party.
(d) A modification or termination under RSA 564-B:4-410, RSA 564-B:4-411, RSA 564-B:4-412, RSA 564-B:4-413, RSA 564-B:4-415, or RSA 564-B:4-416 shall not violate any of the trust's material purposes.
Source.
2004, 130:1. 2005, 270:9, eff. Sept. 20, 2005. 2015, 272:60, eff. Oct. 1, 2015. 2017, 257:9, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-411 - Modification or Termination of Noncharitable Irrevocable Trust by Consent.

564-B:4-411 Modification or Termination of Noncharitable Irrevocable Trust by Consent. –
(a) A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if the court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust. A noncharitable irrevocable trust may be modified upon consent of all of the beneficiaries if the court concludes that modification is not inconsistent with a material purpose of the trust.
(b) Upon termination of a trust under subsection (a), the trustee shall distribute the trust property as agreed by the beneficiaries.
(c) If not all of the beneficiaries consent to a proposed modification or termination of the trust under subsection (a), the modification or termination may be approved by the court if the court is satisfied that:
(1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and
(2) the interests of a beneficiary who does not consent will be adequately protected.
Source.
2004, 130:1. 2005, 270:10, eff. Sept. 20, 2005.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-412 - Modification or Termination Because of Unanticipated Circumstances or Inability to Administer Trust Effectively.

564-B:4-412 Modification or Termination Because of Unanticipated Circumstances or Inability to Administer Trust Effectively. –
(a) Upon petition by a trustee, the director of charitable trusts (in the case of a charitable trust) or an interested person other than the settlor, the court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.
(b) The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.
(c) Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
Source.
2004, 130:1. 2006, 320:54, eff. Aug. 19, 2006. 2017, 257:10, eff. July 18, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-413 - Cy Pres.

564-B:4-413 Cy Pres. –
(a) Except as otherwise provided in subsection (b), if a particular charitable purpose becomes impossible, impracticable, illegal, obsolete, ineffective or prejudicial to the public interest to achieve:
(1) the trust does not fail, in whole or in part;
(2) the trust property does not revert to the settlor or the settlor's successors in interest; and
(3) upon petition by a trustee, the director of charitable trusts or an interested person other than the settlor, the court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, to a charitable purpose that is useful to the community and fulfills as nearly as possible the general charitable intent of the settlor.
(b) A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the court under subsection (a) to apply cy pres to modify or terminate the trust only if, when the provision takes effect:
(1) the trust property is to revert to the settlor and the settlor is still living; or
(2) fewer than 21 years have elapsed since the date of the trust's creation.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2017, 257:11, eff. July 18, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-414 - Modification or Termination of Uneconomic Trust.

564-B:4-414 Modification or Termination of Uneconomic Trust. –
(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if:
(1) The trustee concludes that the value of the trust property is insufficient to justify the cost of administration; and
(2) Within 30 days after the notice was sent to the qualified beneficiaries, a beneficiary does not notify the trustee of the beneficiary's objection to the trust's termination.
(b) The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.
(c) Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
(d) This section does not apply to an easement for conservation or preservation or to a fund held or created by a town or other municipality under RSA 31:19 or RSA 31:19-a.
Source.
2004, 130:1. 2005, 270:11, eff. Sept. 20, 2005. 2017, 257:12, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-415 - Reformation to Correct Mistakes.

564-B:4-415 Reformation to Correct Mistakes. –
The court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's intention if it is proved by clear and convincing evidence that both the settlor's intent and the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-416 - Modification to Achieve Settlor's Tax Objectives.

564-B:4-416 Modification to Achieve Settlor's Tax Objectives. –
To achieve the settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intention. The court may provide that the modification has retroactive effect.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:4-417 - Combination and Division of Trusts.

564-B:4-417 Combination and Division of Trusts. –
(a) After notice to the qualified beneficiaries, a trustee may combine 2 or more trusts into one trust if the result does not impair rights of any beneficiary or adversely affect achievement of the trust's purposes.
(1) Upon the combination of the trusts, the following shall apply:
(A) Each of the trusts other than the surviving trust shall terminate;
(B) The terms of the surviving trust shall govern the surviving trust and its property, including any property acquired from the other trusts that combined into the surviving trust;
(C) All title to real property and other property owned by each trust that combined into the surviving trust and all contractual rights possessed by each trust that combined into the surviving trust are vested in the surviving trust without reversion or impairment; and
(D) All liabilities of each trust that combined into the surviving trust are vested in the surviving trust.
(2) After the combination is effective, the name of the trustee of the surviving trust may be substituted in any pending proceeding for the name of the trustee of any trust that combined into the surviving trust.
(b) After notice to the qualified beneficiaries, a trustee may divide a trust into 2 or more separate trusts if the result does not impair rights of any beneficiary or adversely affect achievement of the trust's purposes.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2017, 257:13, eff. July 18, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-501 - Creditor's Claim Against a Beneficiary.

564-B:5-501 Creditor's Claim Against a Beneficiary. –
(a) To the extent that a beneficiary's interest in a trust is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by:
(1) Attachment of present or future distributions to or for the benefit of the beneficiary; or
(2) Subject to RSA 564-B:5-504, any other means.
(b) The court may limit the relief under subsection (a) as is appropriate under the circumstances.
(c) Subject to RSA 564-B:5-504(b) and (c), a creditor or assignee of a beneficiary may not compel the beneficiary to exercise any right or power that, in any fiduciary or nonfiduciary capacity, the beneficiary has under the terms of the trust, including any of the following:
(1) Any power of appointment;
(2) Any power to direct or veto a distribution;
(3) Any power to appoint or remove a trustee, trust advisor, or trust protector; or
(4) Any right to receive reports, notices, or other information concerning the trust and its administration.
Source.
2004, 130:1. 2005, 270:12, eff. Sept. 20, 2005. 2017, 257:17, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-502 - Creditor's Claim Against a Beneficiary of a Trust Containing a Spendthrift Provision.

564-B:5-502 Creditor's Claim Against a Beneficiary of a Trust Containing a Spendthrift Provision. –
(a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.
(b) A term of a trust providing that the interest of a beneficiary is held subject to a "spendthrift trust," or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.
(c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision.
(d) To the extent that a beneficiary's interest in a trust is subject to a spendthrift provision, a creditor or assignee of the beneficiary may not reach:
(1) The beneficiary's interest in the trust; or
(2) A distribution from the trust before its receipt by the beneficiary.
(e) To the extent that a beneficiary's interest in a trust is subject to a spendthrift provision, the beneficiary's interest:
(1) Is not property for purposes of RSA 458:16-a, I; and
(2) Shall not be subject to any forced heirship, legitime, forced share, or any similar heirship rights under the laws of any jurisdiction.
(f) To the extent that a beneficiary's interest in a trust is subject to a spendthrift provision, a court may authorize an exception creditor of the beneficiary to attach present or future distributions to or for the benefit of the beneficiary.
(1) For purposes of this subsection (f), the following definitions shall apply:
(A) "Exception creditor" means, with respect to a beneficiary:
(i) An individual to the extent that there is a judgment or court order against the beneficiary for child support in this or any other state;
(ii) A spouse or former spouse to the extent that there is a judgment or court order against the beneficiary for basic alimony;
(iii) A judgment creditor who has provided services for the protection of a beneficiary's interest in the trust; or
(iv) This state or the United States for a claim against the beneficiary to the extent that a statute of this state or federal law so provides.
(B) "Basic alimony" means the portion of alimony attributable to the most basic food, shelter, and medical needs of the spouse or former spouse if the judgment or court order expressly specifies that portion.
(2) Attachment of present or future distributions is the exception creditor's exclusive remedy against the beneficiary's interest in the trust.
(3) The court may limit the relief as is appropriate under the circumstances.
(4) Subsection (d)(2) shall not apply to an exception creditor.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2017, 257:18, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-503 - Repealed by 2017, 257:59, II, eff. Sept. 16, 2017.

564-B:5-503 Repealed by 2017, 257:59, II, eff. Sept. 16, 2017. –
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-505 - Creditor's Claim Against a Settlor of a Revocable Trust.

564-B:5-505 Creditor's Claim Against a Settlor of a Revocable Trust. –
(a) During the settlor's life, the property of a revocable trust is subject to claims of the settlor's creditors regardless of whether the trust contains a spendthrift provision.
(b) After the settlor's death and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable immediately before the settlor's death is subject to the following claims to the extent that the settlor's probate estate is inadequate to satisfy those claims:
(1) Claims of the settlor's creditors;
(2) Costs of administration of the settlor's estate; and
(3) Expenses of the settlor's funeral and disposal of remains.
(c) Subsection (b) shall apply to a trust regardless of whether the trust contains a spendthrift provision.
(d) Subsection (b) shall not apply to:
(1) The proceeds and any other benefits of a policy of life or endowment insurance effected by a settlor, a trustee, or any other person on the settlor's life or another individual's life as provided in RSA 408:6; or
(2) Any claim barred under RSA 564-B:5-508.
(e) During only the period that the power of withdrawal may be exercised, the holder of a power of withdrawal shall be treated in the same manner under this section as the settlor of a revocable trust to the extent of the property subject to the power of withdrawal.
Source.
2004, 130:1. 2005, 270:15, eff. Sept. 20, 2005. 2008, 374:10-12, eff. Sept. 9, 2008. 2014, 195:18-20, eff. July 1, 2014. 2017, 257:20, eff. Sept. 16, 2017. 2022, 144:2, eff. Jan. 1, 2023.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-505B - Coordination with Qualified Dispositions in Trusts.

564-B:5-505B Coordination with Qualified Dispositions in Trusts. –
(a) On the effective date of RSA 564-B:5-505A, RSA 564-B:5-505A shall apply to:
(1) Any transfer that:
(A) Was made before the effective date of RSA 564-B:5-505A; and
(B) Qualified as a qualified disposition within the meaning of RSA 564-D:1, VII, as in effect immediately before the effective date of RSA 564-B:5-505A; and
(2) Any trust into which, before the effective date of RSA 564-B:5-505A, there was a transfer described in subsection (a)(1).
(b) Except as otherwise permitted under RSA 564-B:5-505A, a creditor or assignee of a settlor may not avoid a transfer described in subsection (a)(1) if the creditor or assignee could not have avoided the transfer under RSA 564-D as in effect immediately before the effective date of RSA 564-B:5-505A.
(c) Except as otherwise permitted under RSA 564-B:5-505A, a creditor or assignee of a settlor may not reach any property of a trust described in subsection (a)(2) if the creditor or assignee could not have reached the property under RSA 564-D as in effect immediately before the effective date of RSA 564-B:5-505A.
Source.
2017, 257:21, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-506 - Overdue Distribution.

564-B:5-506 Overdue Distribution. –
(a) In this section, "mandatory distribution" means a distribution of income or principal that the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term excludes a distribution subject to the exercise of the trustee's discretion regardless of whether the terms of the trust (i) include a support or other standard to guide the trustee in making distribution decisions or (ii) provide that the trustee "may" or "shall" make discretionary distributions, including distributions pursuant to a support or other standard.
(b) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.
Source.
2004, 130:1. 2005, 270:16, eff. Sept. 20, 2005.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-507 - Personal Obligations of Trustee.

564-B:5-507 Personal Obligations of Trustee. –
Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-508 - Disposition of Claims Against the Settlor.

564-B:5-508 Disposition of Claims Against the Settlor. –
(a) Upon the death of a settlor of a trust, a trustee may dispose of a known claim against the settlor if the trustee sends to the claimant a notice described in subsection (c). For purposes of this section, a "known claim" is an actual or potential claim of which the trustee has knowledge, but excludes a contingent liability or a claim based on an event occurring after the date of the settlor's death.
(b) Upon the death of a settlor of a trust, a trustee may dispose of any unknown claims against the settlor if the trustee publishes a notice described in subsection (c). The notice shall be published once in a newspaper of general circulation in the county in which, at the time of his or her death, the settlor was domiciled. For purposes of this section, an unknown claim is a claim that is not a known claim, but excludes a contingent liability or a claim based on an event occurring after the date of the settlor's death.
(c) For purposes of subsections (a) and (b), the notice shall contain the following information and statements:
(1) The notice shall state that the settlor has died. The notice shall provide the trustee's name and mailing address, and the notice shall provide the settlor's name, the settlor's place of domicile at the time of his or her death, and the settlor's date of death.
(2) In the case of a notice under subsection (a), the notice shall state that any claim against the settlor will be barred unless a proceeding to enforce the claim is commenced within one year after the date on which the trustee sent the notice.
(3) In the case of a notice under subsection (b), the notice shall state that any claim against the settlor will be barred unless a proceeding to enforce the claim is commenced within one year after the publication date of the notice.
(d) If a trustee sends a notice in accordance with subsection (a), then a known claim against the settlor shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the date on which the trustee sent the notice. If a trustee publishes a notice in accordance with subsection (b), then an unknown claim against the settlor shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the publication date of the notice. The trustee and a claimant may agree to toll the limitation period under this subsection.
(e) To the extent that the trustee acts in good faith, the trustee is not liable to any person for exercising the discretion to dispose of claims under this section or not exercising that discretion.
(f) This section shall not bar any claim that the director of charitable trusts or the department of health and human services has the authority to enforce.
Source.
2014, 195:21, eff. July 1, 2014.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-510 - Limitation on Personal Liability of Beneficiaries.

564-B:5-510 Limitation on Personal Liability of Beneficiaries. –
(a) A beneficiary is not personally liable on a contract into which a trustee, trust advisor, or trust protector properly enters in the course of administering the trust, unless the beneficiary expressly agrees to be personally liable on that contract.
(b) A beneficiary is not personally liable for torts committed by a trustee, trust advisor, or trust protector in the course of administering the trust, unless the beneficiary is personally at fault.
(c) A beneficiary is not personally liable for claims or obligations arising from the ownership or control of trust property by a trustee, trust advisor, or trust protector, unless the beneficiary is personally at fault. Claims arising from the ownership or control of trust property include liability for any violation of environmental law.
(d) This section does not apply to a revocable trust to the extent that the beneficiary is the settlor of that trust.
(e) This section does not limit or otherwise affect a beneficiary's liability to return a distribution under the terms of the trust, the beneficiary's agreement with a trustee, or RSA 564-B:4-406(f), RSA 564-B:8-812, RSA 564-B:8-817(d), or any other provision of this chapter.
Source.
2014, 195:21, eff. July 1, 2014.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:5-511 - Limitation on Personal Liability of Settlors.

564-B:5-511 Limitation on Personal Liability of Settlors. –
(a) A settlor of an irrevocable trust is not personally liable on a contract into which a trustee, trust advisor, or trust protector properly enters in the course of administering the trust, unless the settlor expressly agrees to be personally liable on that contract.
(b) A settlor of an irrevocable trust is not personally liable for torts committed by a trustee, trust advisor, or trust protector in the course of administering the trust, unless the settlor is personally at fault.
(c) A settlor of an irrevocable trust is not personally liable for claims or obligations arising from the ownership or control of trust property by a trustee, trust advisor, or trust protector, unless the settlor is personally at fault. Claims arising from the ownership or control of trust property include liability for any violation of environmental law.
(d) This section does not limit or otherwise affect:
(1) A settlor's obligations under an agreement with a trustee, trust advisor, or trust protector;
(2) The rights of a settlor's creditor under this chapter; or
(3) The application of RSA 564-B:4-406(f), RSA 564-B:8-812, RSA 564-B:8-817(d), or any other provision of this chapter.
Source.
2019, 230:4, eff. Sept. 10, 2019.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:6-601 - Capacity of Settlor of Revocable Trust.

564-B:6-601 Capacity of Settlor of Revocable Trust. –
The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:6-603 - Settlor's Powers; Powers of Withdrawal.

564-B:6-603 Settlor's Powers;  Powers of Withdrawal. –
(a) While a trust is revocable and the settlor has capacity to revoke the trust, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.
(b) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:6-604 - Limitation on Action Contesting Validity of Revocable Trust; Distribution of Trust Property.

564-B:6-604 Limitation on Action Contesting Validity of Revocable Trust;  Distribution of Trust Property. –
If a trust was revocable at the settlor's death, then a person may commence a judicial proceeding to contest the validity of that trust in accordance with RSA 564-B:4-406, and the trustee may proceed to distribute the trust property in accordance with RSA 564-B:4-406.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2014, 195:22, eff. July 1, 2014.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:7-701 - Accepting or Declining Trusteeship.

564-B:7-701 Accepting or Declining Trusteeship. –
(a) Except as otherwise provided in subsection (c), a person designated as trustee accepts the trusteeship:
(1) by substantially complying with a method of acceptance provided in the terms of the trust; or
(2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.
(b) A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.
(c) A person designated as trustee, without accepting the trusteeship, may:
(1) act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and
(2) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:7-702 - Trustee's Bond.

564-B:7-702 Trustee's Bond. –
(a) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.
(b) The court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The court may modify or terminate a bond at any time.
(c) The following entities need not give bond, even if required by the terms of the trust:
(1) Any trust company, bank, or savings association incorporated under the laws of this state, or any national bank or federally chartered savings association duly authorized and located within this state; and
(2) Any bank as defined in RSA 383-A:2-201(a)(3), if that bank is permitted to conduct a trust business, as defined in RSA 383-A:2-201(a)(51), in this state.
Source.
2004, 130:1, eff. Oct. 1, 2004. 2015, 272:50, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:7-703 - Cotrustees.

564-B:7-703 Cotrustees. –
(a) Cotrustees who are unable to reach a unanimous decision may act by majority decision.
(b) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.
(c) A cotrustee must participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.
(d) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.
(e) A trustee may not delegate to a cotrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made.
(f) Except as otherwise provided in subsection (g), a trustee who does not join in an action of another trustee is not liable for the action.
(g) Each trustee shall exercise reasonable care to:
(1) prevent a cotrustee from committing a serious breach of trust; and
(2) compel a cotrustee to redress a serious breach of trust.
(h) A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust.
(i) A trustee shall keep each cotrustee and any other fiduciary designated by the terms of the trust reasonably informed about the administration of the trust, to the extent the trustee has knowledge that the other cotrustee or other fiduciary designated by the terms of the trust does not have of the trustee's actions, or regarding other material information (or the availability of such information) related to the administration of the trust that would be reasonably necessary for the cotrustee or other fiduciary designated by the terms of the trust to perform his or her duties as a trustee or other fiduciary of the trust.
Source.
2004, 130:1. 2006, 320:57, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:7-704 - Vacancy in Trusteeship; Appointment of Successor.

564-B:7-704 Vacancy in Trusteeship;  Appointment of Successor. –
(a) A vacancy in a trusteeship occurs if:
(1) a person designated as trustee rejects the trusteeship;
(2) a person designated as trustee cannot be identified or does not exist;
(3) a trustee resigns;
(4) a trustee is disqualified or removed;
(5) a trustee dies; or
(6) a guardian of the estate or guardian of the person or conservator is appointed for an individual serving as trustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee;
(2) by a person appointed by unanimous agreement of the qualified beneficiaries; or
(3) by a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee;
(2) by a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the director of charitable trusts concurs in the selection; or
(3) by a person appointed by the court.
(e) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.
Source.
2004, 130:1, eff. Oct. 1, 2004.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-B - New Hampshire Trust Code › Section 564-B:7-705 - Resignation of Trustee.

564-B:7-705 Resignation of Trustee. –
(a) A trustee may resign:
(1) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or
(2) with the approval of the court.
(b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.
Source.
2004, 130:1, eff. Oct. 1, 2004.