RSA 564-B:1-111 · Nonjudicial Settlement Agreements

564-B:1-111 Nonjudicial Settlement Agreements. –

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(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 person, other than the settlor, whose consent would be required in order to achieve a binding settlement were the settlement to be approved by a court.

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(b)

Except as otherwise provided in subsection (c), all of the interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.

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(c)

A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by a court under this chapter or other applicable law.

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(d)

Matters that may be resolved by a nonjudicial settlement agreement include without limitation:

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(1)

the interpretation or construction of the terms of the trust;

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(2)

the approval of a trustee's report or accounting;

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(3)

direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power;

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(4)

the resignation or appointment of a trustee and the determination of a trustee's compensation;

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(5)

transfer of a trust's principal place of administration;

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(6)

liability of a trustee for an action relating to the trust; and

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(7)

the termination or modification of a trust.

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(e)

Any interested person may request the court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in article 3 was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved. Source. 2004, 130:1. 2006, 320:51, eff. Aug. 19, 2006. 2008, 374:6, eff. Sept. 9, 2008. 2015, 272:57, eff. July 27, 2015.

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