Section 564-B:1-101 – Short Title.
564-B:1-101 Short Title. – This chapter may be cited as the New Hampshire Trust Code. Source. 2004, 130:1, eff. Oct. 1, 2004. 2015, 272:67, eff. Oct. 1, 2015.
564-B:1-101 Short Title. – This chapter may be cited as the New Hampshire Trust Code. Source. 2004, 130:1, eff. Oct. 1, 2004. 2015, 272:67, eff. Oct. 1, 2015.
564-B:1-102 Scope. – (a) This chapter applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. (b) Without precluding other means for establishing that this chapter applies to a specific trust, this chapter […]
564-B:1-103 Definitions. – In this chapter: (1) "Action," with respect to an act of a trustee, includes a failure to act. (2) " Beneficiary " means a person that: (A) has a present or future beneficial interest in a trust, vested or contingent; or (B) in a capacity other than that of trustee, holds […]
564-B:1-104 Knowledge. – (a) Subject to subsection (b), a person has knowledge of a fact if the person: (1) has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question, has reason to know […]
564-B:1-105 Default and Mandatory Rules. – (a) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (b) The terms of a trust prevail over any provision of this chapter except: (1) the […]
564-B:1-106 Common Law of Trusts; Principles of Equity. – The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or another statute of this state. Source. 2004, 130:1, eff. Oct. 1, 2004.
564-B:1-107 Governing Law. – (a) The meaning and effect of the terms of a trust are determined by: (1) the law of the jurisdiction designated in the terms of the trust unless the designation of that jurisdiction’s law is contrary to a strong public policy of the jurisdiction having the most significant relationship to […]
564-B:1-108 Principal Place of Administration. – (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if: (1) a trustee’s principal place of business is located in or a trustee is a resident of the designated […]
564-B:1-109 Methods and Waiver of Notice. – (a) Notice to a person under this chapter or the sending of a document to a person under this chapter must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or […]
564-B:1-110 Others Treated as Qualified Beneficiaries. – (a) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization’s qualification is being determined: (1) is a distributee or permissible distributee […]
564-B:1-111 Nonjudicial Settlement Agreements. – (a) For purposes of this section, " interested person " means each of the following persons: a trustee; a person who, under the terms of the trust, has the power to enforce the trust; if the trust is a charitable trust, the director of charitable trusts; and any other […]
564-B:1-111A Nonjudicial Dispute Resolution. – (a) If the terms of the trust require the interested persons to resolve a trust dispute exclusively by reasonable nonjudicial procedures, then those interested persons shall resolve that trust dispute in accordance with the terms of the trust. (b) An interested person may commence a judicial proceeding to determine […]
564-B:1-112 Rules of Construction. – (a) The rules of construction that apply in this state to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property. For the purposes of this section, RSA 551:10 is […]
564-B:1-113 Precatory Language. – (a) For purposes of this section, the following definitions apply: (1) " Letter of wishes " means a record that: (A) Is not a trust instrument; (B) Is created by a settlor; and (C) Contains precatory language. (2) " Precatory language " means language that: (A) Is not binding on […]
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 […]
564-B:10-1002 Damages for Breach of Trust. – (a) A trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of: (1) the amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or (2) […]
564-B:10-1003 Damages in Absence of Breach. – (a) A trustee, trust advisor, or trust protector is accountable to an affected beneficiary for any profit made by that trustee, trust advisor, or trust protector arising from the administration of the trust, even absent a breach of trust. This section does not preclude the payment of […]
564-B:10-1004 Attorney’s Fees and Costs. – In a judicial proceeding involving the administration of a trust, the court, as justice and equity may require, may award costs and expenses, including reasonable attorney’s fees, to any party, to be paid by another party or from the trust that is the subject of the controversy. Source. […]
564-B:10-1005 Limitation of Action Against a Trustee by a Beneficiary. – (a) A beneficiary may not commence a proceeding against a trustee for breach of trust more than one year after the date the beneficiary or a representative of the beneficiary was sent a report that adequately disclosed the existence of a potential claim […]
564-B:10-1005A Limitation of Action Against a Trustee by a Trustee, Trust Advisor, or Trust Protector. – (a) A trustee shall commence a proceeding against a cotrustee or a former trustee for breach of trust within 3 years after the earlier of the date on which the trustee was sent a report that adequately disclosed […]