Title LVI, Probate Courts and Decedents' Estates

(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:4-40…

A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or e…

(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 t…

(a) If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust's general accounting records, the trustee may mainta…

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 nat…

A trustee shall allocate to principal: (1) To the extent not allocated to income under this chapter, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a contract naming the trust o…

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.

(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 trus…

To the extent that a trustee accounts for receipts from rental property pursuant to this section and not as provided in RSA 564-C:4-403, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or …

(a) A trust is void to the extent that it was not validly created in accordance with this chapter or its creation was induced by fraud, duress, or undue influence. (b) A person may commence a judicial proceeding to contest the validity of a trust within the earlier of: (1) in the…

(a) An amount received as interest, whether determined at a fixed, variable, or floating rate, on an obligation to pay money to the trustee, including an amount received as consideration for prepaying principal, must be allocated to income without any provision for amortization o…

(a) Except as otherwise provided in subsection (b), a trustee shall allocate to principal the proceeds of a life insurance policy or other contract in which the trust or its trustee is named as beneficiary, including a contract that insures the trust or its trustee against loss f…

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.

(a) In the case of a charitable remainder unitrust within the meaning of section 664(d)(2) of the Internal Revenue Code, in which the trust instrument contains an income exception described in section 664(d)(3) of the Internal Revenue Code, the trustee shall allocate receipts fro…

(a) If a trustee determines that an allocation between principal and income required by RSA 564-C:4-409, 410, 411, 412, or 415 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in RSA 564-C:1-104(c) applies to the …

(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 …

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 auth…

(a) In this section, "payment" means a payment that a trustee may receive over a fixed number of years or during the life of one or more individuals because of services rendered or property transferred to the payer in exchange for future payments. The term includes a payment made…

(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 un…

(a) In this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments under …

(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 a…

(a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: (1) if received as a nominal bonus, nominal delay rental or nominal annual rent on a lease, a recei…

(a) To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts: (1) to income to the extent that the amount of timber removed from the land does not exceed the rate of growt…

(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 an…

(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…

(a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under RS…

(a) In this section, "derivative" means a contract or financial instrument or a combination of contracts and financial instruments which gives a trust the right or obligation to participate in some or all changes in the price of a tangible or intangible asset or group of assets, …

(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 administr…

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 express…

(a) In this section, "asset-backed security" means an asset whose value is based upon the right it gives the owner to receive distributions from the proceeds of financial assets that provide collateral for the security. The term includes an asset that gives the owner the right to…

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.

(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 appl…

(a) Subject to the limitations provided in this section, a trustee has the power to decant a trust. The power to decant is the power to appoint some or all of the trust property of a trust ("first trust") to another trust ("second trust"). A trustee's power to decant is a power w…

(a) Subject to the limitations provided in this section, a trustee may modify a trust. A trustee may exercise that power of modification for any reason, including: (1) furthering the settlor's intent or a material purpose of the trust; (2) preserving any favorable tax treatment f…

In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact the Uniform Power of Attorney Act.

This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. section 7001 et seq., but does not modify, limit, or supersede section 101(c) of that act, 15 U.S.C. section 7001(c), or authorize electronic delivery of…

Except as otherwise provided in this chapter, on the effective date of this chapter: (1) this chapter applies to a power of attorney created before, on, or after its effective date; (2) this chapter applies to a judicial proceeding concerning a power of attorney commenced on or a…

Except as otherwise provided in RSA 564:1, such trust company or national bank when appointed trustee shall give a surety company bond in such sum as the judge may order.

A trustee shall make the following disbursements from income to the extent that they are not disbursements to which RSA 564-C:2-201(2)(B) or (C) applies: (a) Except as otherwise ordered by a court, so much of the compensation of the trustee and of any person providing investment …

(a) Each foundation shall continuously maintain a registered agent in this state. (b) Each of the following persons qualifies as a registered agent: (1) An individual who: (A) Resides in this state; and (B) Has a residential or business office that is identical with the registere…

(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 …

(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…

(a) Each foundation shall continuously maintain in this state a registered office. (b) A foundation's registered office may be the same as any of its offices in this state.

(a) A trustee shall make the following disbursements from principal: (1) Such of the disbursements described in paragraph (a) of RSA 564-C:5-501 as are not charged to income; (2) all of the trustee's compensation calculated on principal as a fee for acceptance, distribution, or t…

(a) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one year. (b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a pri…

(a) A foundation may change its registered agent by filing with the secretary of state a notice of change of registered agent. (b) The notice of change of registered agent shall set forth: (1) The foundation's name; (2) The street address of its current registered office; (3) The…