New Hampshire Revised Statutes 564-B:5-511 – Limitation on Personal Liability of Settlors
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(a) A settlor of an irrevocable trust is not personally liable on a contract into which a trustee, trust advisor, or trust protector properly enters in the course of administering the trust, unless the settlor expressly agrees to be personally liable on that contract.
(b) A settlor of an irrevocable trust is not personally liable for torts committed by a trustee, trust advisor, or trust protector in the course of administering the trust, unless the settlor is personally at fault.
(c) A settlor of an irrevocable trust is not personally liable for claims or obligations arising from the ownership or control of trust property by a trustee, trust advisor, or trust protector, unless the settlor is personally at fault. Claims arising from the ownership or control of trust property include liability for any violation of environmental law.
(d) This section does not limit or otherwise affect:
(1) A settlor’s obligations under an agreement with a trustee, trust advisor, or trust protector;
(2) The rights of a settlor’s creditor under this chapter; or
(3) The application of N.H. Rev. Stat. § 564-B:4-406(f), N.H. Rev. Stat. § 564-B:8-812, N.H. Rev. Stat. § 564-B:8-817(d), or any other provision of this chapter.
(b) A settlor of an irrevocable trust is not personally liable for torts committed by a trustee, trust advisor, or trust protector in the course of administering the trust, unless the settlor is personally at fault.
Terms Used In New Hampshire Revised Statutes 564-B:5-511
- Contract: A legal written agreement that becomes binding when signed.
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- Trustee: A person or institution holding and administering property in trust.
(c) A settlor of an irrevocable trust is not personally liable for claims or obligations arising from the ownership or control of trust property by a trustee, trust advisor, or trust protector, unless the settlor is personally at fault. Claims arising from the ownership or control of trust property include liability for any violation of environmental law.
(d) This section does not limit or otherwise affect:
(1) A settlor’s obligations under an agreement with a trustee, trust advisor, or trust protector;
(2) The rights of a settlor’s creditor under this chapter; or
(3) The application of N.H. Rev. Stat. § 564-B:4-406(f), N.H. Rev. Stat. § 564-B:8-812, N.H. Rev. Stat. § 564-B:8-817(d), or any other provision of this chapter.