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RSA 564-B:4-414 · Modification or Termination of Uneconomic Trust

Title
LVI: PROBATE COURTS AND DECEDENTS' ESTATES
Chapter
564-B · NEW HAMPSHIRE TRUST CODE
Status
current
Official source linked
Yes
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564-B:4-414 Modification or Termination of Uneconomic Trust. –

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(a)

After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if:

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(1)

The trustee concludes that the value of the trust property is insufficient to justify the cost of administration; and

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(2)

Within 30 days after the notice was sent to the qualified beneficiaries, a beneficiary does not notify the trustee of the beneficiary's objection to the trust's termination.

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(b)

The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.

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(c)

Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.

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(d)

This section does not apply to an easement for conservation or preservation or to a fund held or created by a town or other municipality under RSA 31:19 or RSA 31:19-a. Source. 2004, 130:1. 2005, 270:11, eff. Sept. 20, 2005. 2017, 257:12, eff. Sept. 16, 2017.

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Source note

Source. 2004, 130:1. 2005, 270:11, eff. Sept. 20, 2005. 2017, 257:12, eff. Sept. 16, 2017.

Source history

  • 2004, 130:1
  • 2005, 270:11, eff. Sept. 20, 2005
  • 2017, 257:12, eff. Sept. 16, 2017

Related materials

Bill relationships

  • 2025 HB88 amend

    housand Twenty Five AN ACT establishing community property trusts. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Article; Article 13 Community Property Trusts. Amend RSA 564-B by inserting after article 12 the following new article: Article 13 Community Property Trusts 564-B:13-1301 Short Title. This article shall be known as the "New Hampshire Community Property Trust Act of 2026."