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New Hampshire Living Trust Form (Revocable)

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New Hampshire Living Trust Form (Revocable)

Updated May 08, 2024

A New Hampshire living trust allows the creator of the trust, known as the “grantor,” to transfer their assets into a separate entity to ensure that their estate is properly managed when they die. The grantor may alter or revoke this trust at any time, and the beneficiaries are able to bypass the probate process through which an estate is usually litigated in court.

Requirements (5)

  1. Competent: The grantor must have the capacity to establish a trust.
  2. Intent: The grantor must indicate an intention to establish a trust.
  3. Trustee’s Duties: The trustee must have duties to perform.
  4. Sole Trustee Cannot be the Sole Beneficiary: The same person cannot be the sole trustee and the sole beneficiary of a trust.
  5. Definite Beneficiary: Unless it is a charitable trust or a trust for the care of an animal, the trust must have a definite beneficiary.[1]

Laws

Amending/Revoking – Unless the terms of the trust state specifically that it is irrevocable, the grantor may alter or revoke the trust.[2]

Bond Requirement – The trustee must only put forward a bond if they have been ordered to do so by the court or if this is a requirement under the terms of the trust.[3]

Certification of Trust – The trustee may furnish a certification of trust in lieu of a copy of the trust instrument to a person who is not a beneficiary. This certification must contain the date the instrument was executed, the name of the grantor, and other information.[4]

Co-Trustees – If co-trustees are unable to reach a unanimous decision in administering the trust, then they may act by majority decision.[5]

Contesting a Trust – An action to contest a trust may not begin later than 180 days after the trustee provided notice of the trust’s existence and a copy of the trust instrument, or later than three years after the death of the grantor, whichever is earlier.[6]

Costs Related to the Trust – In administering the trust, the trustee must only incur costs that are reasonable in relation to their skills, the purposes of the trust, and the trust property.[7]

Jurisdiction – A living trust created in another state is valid in New Hampshire if it was created in compliance with the laws of that state.[8]

Oral Trusts – The creation of an oral trust can only be proven by clear and convincing evidence.[9]

Pet Trusts – A trust may be established to provide for the care of one or more animals alive during the grantor’s lifetime. The trust terminates when the last surviving animal being cared for passes away.[10]

Signing Requirements – A signature is not required by New Hampshire state law for a living trust to be valid.

Spendthrift Provision – A spendthrift provision must restrain both the voluntary and involuntary transfer of a beneficiary’s interest in order to be considered valid.[11]

Trustee’s Compensation – The trustee is entitled to compensation that is reasonable under the circumstances, unless the terms of the trust specify the trustee’s compensation.[12]

Trustee’s Duties – In managing and investing trust property, the trustee must act in good faith, in accordance with the purposes of the trust, and in the interest of its beneficiaries.[13]

Trustee’s Powers – In addition to the powers set out in the trust instrument, the trustee has the power to collect, sell, exchange, partition, or otherwise alter the character of trust property.[14]

Sources

  1. § 564-B:4-402(a)
  2. § 564-B:6-602(a)
  3. § 564-B:7-702(a)
  4. § 564-B:10-1013(a)
  5. § 564-B:7-703(a)
  6. § 564-B:4-406(b)
  7. § 564-B:8-805
  8. § 564-B:4-403
  9. § 564-B:4-407
  10. § 564-B:4-408(a)
  11. § 564-B:5-502(a)
  12. § 564-B:7-708(a)
  13. § 564-B:8-801
  14. § 564-B:8-816(a)