564-C:4-409 Deferred Compensation, Annuities, and Similar Payments. – (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 […]
564-C:4-410 Liquidating Asset. – (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 an arrangement that does […]
564-C:4-411 Minerals, Water, and Other Natural Resources. – (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 […]
564-C:4-412 Timber. – (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 growth […]
564-C:4-413 Property Not Productive of Income. – (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 […]
564-C:4-414 Derivatives and Options. – (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, […]
564-C:4-415 Asset-Backed Securities. – (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 receive […]
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 […]
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 […]
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 […]
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) […]
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 […]
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 […]
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 […]
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 […]
