2009 New Hampshire Statutes
TITLE LVI — PROBATE COURTS AND DECEDENTS' ESTATES (Includes Chapters 547 - 567-A)
CHAPTER 564-B — UNIFORM TRUST CODE
Section 564-B:4-414 Modification or Termination of Uneconomic Trust.
(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 the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
(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.
(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.
(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.
Disclaimer: These codes may not be the most recent version. New Hampshire may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
