HB183: relative to a distribution from a decedent's estate to a minor.

CHAPTER 30

HB 183 - FINAL VERSION

30jan03...0049h

2003 SESSION

03-0668

01/09

HOUSE BILL 183

AN ACT relative to a distribution from a decedent's estate to a minor.

SPONSORS: Rep. J. Pratt, Ches 24; Rep. Craig, Hills 50; Rep. Rowe, Hills 47; Sen. Foster, Dist 13; Sen. Peterson, Dist 11

COMMITTEE: Judiciary

ANALYSIS

This bill clarifies the procedure relative to a distribution from a decedent's estate to a minor.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

30jan03... 0049h

03-0668

01/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Three

AN ACT relative to a distribution from a decedent's estate to a minor.

Be it Enacted by the Senate and House of Representatives in General Court convened:

30:1 Minors Not Under Guardianship. Amend RSA 561:20 to read as follows:

561:20 Minors Not Under Guardianship. Whenever any minor whose estate is not [being] under legal guardianship shall be entitled to receive from any administrator [or], executor, trustee, or third party payor/custodian, any distributive share as heir or next of kin, [or] any legacy, [the full amount of which share or legacy is not more than $5,000, said administrator or executor, upon petition to and approval of the probate court, shall pay said sum to the parents of the minor, if both are living, or to the surviving parent if one parent is deceased, or to the parent or other person having custody of the minor, if the parents are divorced, or to a person standing in loco parentis to the minor, if both parents are deceased. The receipt of the parents or parent or other person shall be filed and accepted by the probate court in discharge of the administrator's or executor's liability therefor in the same manner and effect as though the parents or parent or other person had been legally appointed guardian by the probate court. Publication of notice upon the petition to the probate court shall not be required unless ordered by the court. When considering such a petition the probate court shall determine the best interests of the minor. If such a petition is approved by the probate court, the court may make all necessary orders for protecting the interests of the minor and may require the parents or parent or other person to give bond or to account for all money received on behalf of the minor, or both] bequest, or devise, any monetary distribution, or any ownership interest, said administrator, executor, trustee, or third party payor/custodian shall make such distribution to the person designated as such minor's custodian for the benefit of such minor under either RSA 463-A, the Uniform Transfers to Minors Act, or under another state's Uniform Transfers to Minors Act or similar statute, or absent a designated custodian, to a custodian for the benefit of such minor under RSA 463-A, the Uniform Transfers to Minors Act.

30:2 Effective Date. This act shall take effect January 1, 2004.

(Approved: May 2, 2003)

(Effective Date: January 1, 2004)