Section 564-C:6-602 – Application of Chapter to Trusts and Estates.
564-C:6-602 Application of Chapter to Trusts and Estates. – (a) The effective date of this chapter shall be January 1, 2007. (b) Except as otherwise provided in this chapter, on the effective date of this chapter, the chapter shall apply: (1) to every inter vivos trust created on or after the effective date of […]
Section 564-C:5-501 – Disbursements from Income.
564-C:5-501 Disbursements from Income. – 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 advisory or custodial […]
Section 564-C:5-502 – Disbursements from Principal.
564-C:5-502 Disbursements from Principal. – (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 termination, and disbursements made to […]
Section 564-C:5-503 – Transfers from Income to Principal for Depreciation.
564-C:5-503 Transfers from Income to Principal for Depreciation. – (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 […]
Section 564-C:5-504 – Transfers from Income to Reimburse Principal.
564-C:5-504 Transfers from Income to Reimburse Principal. – (a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements. (b) […]
Section 564-C:5-505 – Income Taxes.
564-C:5-505 Income Taxes. – (a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. (b) A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income […]
Section 564-C:5-506 – Adjustments Between Principal and Income Because of Taxes.
564-C:5-506 Adjustments Between Principal and Income Because of Taxes. – (a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (1) elections and decisions, other than those described in subsection (b), that the fiduciary makes […]
Section 564-C:6-601 – Severability Clause.
564-C:6-601 Severability Clause. – If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are […]
Section 564-C:4-407A – Charitable Remainder Unitrusts.
564-C:4-407A Charitable Remainder Unitrusts. – (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 from each of the following assets […]
Section 564-C:4-408 – Insubstantial Allocations Not Required.
564-C:4-408 Insubstantial Allocations Not Required. – (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 allocation. This power may […]