There is a newer version
of
this Section
2018 New Hampshire Revised Statutes
Title LVI - Probate Courts and Decedents' Estates
Chapter 564-C - Uniform Principal and Income Act
Section 564-C:4-407A - Charitable Remainder Unitrusts.
Universal Citation: NH Rev Stat § 564-C:4-407A (2018)
564-C:4-407A Charitable Remainder Unitrusts. –
(a) In the case of a charitable remainder unitrust within the meaning of section 664(d)(2) of the Internal Revenue Code, in which the trust instrument contains an income exception described in section 664(d)(3) of the Internal Revenue Code, the trustee shall allocate receipts from each of the following assets in accordance with subsection (b), notwithstanding any other provision of this chapter:
(1) an entity within the meaning of RSA 564-C:4-401(a);
(2) an obligation to pay money to the trustee, including an obligation whose purchase price or value when it is acquired is less than its value at maturity;
(3) a life insurance policy, unless the insured has died;
(4) a private or commercial annuity, unless the payments within the meaning of RSA 564-C:4-409(a), have commenced;
(5) a derivative within the meaning of RSA 564-C:4-414(a), except to the extent that the trustee accounts under RSA 564-C:4-403 for a transaction in that derivative; or
(6) an asset-backed security within the meaning of RSA 564-C:4-415(a).
(b) A trustee shall allocate to income the amount in excess of the asset's purchase price or the asset's value when it was acquired. A trustee shall allocate to principal the balance of the money or other property received.
(c) This section shall apply to any charitable remainder unitrust created before, on, or after the effective date of this section.
(a) In the case of a charitable remainder unitrust within the meaning of section 664(d)(2) of the Internal Revenue Code, in which the trust instrument contains an income exception described in section 664(d)(3) of the Internal Revenue Code, the trustee shall allocate receipts from each of the following assets in accordance with subsection (b), notwithstanding any other provision of this chapter:
(1) an entity within the meaning of RSA 564-C:4-401(a);
(2) an obligation to pay money to the trustee, including an obligation whose purchase price or value when it is acquired is less than its value at maturity;
(3) a life insurance policy, unless the insured has died;
(4) a private or commercial annuity, unless the payments within the meaning of RSA 564-C:4-409(a), have commenced;
(5) a derivative within the meaning of RSA 564-C:4-414(a), except to the extent that the trustee accounts under RSA 564-C:4-403 for a transaction in that derivative; or
(6) an asset-backed security within the meaning of RSA 564-C:4-415(a).
(b) A trustee shall allocate to income the amount in excess of the asset's purchase price or the asset's value when it was acquired. A trustee shall allocate to principal the balance of the money or other property received.
(c) This section shall apply to any charitable remainder unitrust created before, on, or after the effective date of this section.
Source. 2014, 195:34, eff. July 1, 2014.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
