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2018 New Hampshire Revised Statutes
Title LVI - Probate Courts and Decedents' Estates
Chapter 564-B - New Hampshire Trust Code
Section 564-B:4-414 - Modification or Termination of Uneconomic Trust.
Universal Citation: NH Rev Stat § 564-B:4-414 (2018)
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:
(1) The trustee concludes that the value of the trust property is insufficient to justify the cost of administration; and
(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.
(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.
(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:
(1) The trustee concludes that the value of the trust property is insufficient to justify the cost of administration; and
(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.
(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. 2017, 257:12, eff. Sept. 16, 2017.
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