New Hampshire Revised Statutes 564-B:1-105 – Default and Mandatory Rules
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(a) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.
(b) The terms of a trust prevail over any provision of this chapter except:
(1) the requirements for creating a trust;
(2) the duty of a trustee to act in good faith and in accordance with the terms of the trust, the purposes of the trust, and the interests of the beneficiaries;
(3) the requirement that a trust and the terms of that trust be for the benefit of its beneficiaries as their interests are defined under the terms of the trust, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(4) the power of the court to modify or terminate a trust under N.H. Rev. Stat. § 564-B:4-410 through N.H. Rev. Stat. § 564-B:4-416;
(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in article 5;
(6) the power of the court under N.H. Rev. Stat. § 564-B:7-702 to require, dispense with, or modify or terminate a bond;
(7) the power of the court under N.H. Rev. Stat. § 564-B:7-708(b) to adjust a trustee’s compensation specified in the terms of the trust which is unreasonably low or high;
(8) the effect of an exculpatory term under N.H. Rev. Stat. § 564-B:10-1008;
(9) the rights under N.H. Rev. Stat. § 564-B:10-1010 through N.H. Rev. Stat. § 564-B:10-1013 of a person other than a trustee or beneficiary;
(10) statutory periods of limitation for commencing a judicial proceeding;
(11) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice;
(12) the subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in N.H. Rev. Stat. § 564-B:2-203 and N.H. Rev. Stat. § 564-B:2-204;
(13) an interested person’s rights under N.H. Rev. Stat. § 564-B:1-111A(b);
(14) the extent to which a no-contest provision is unenforceable or inapplicable under N.H. Rev. Stat. § 564-B:10-1014;
(15) if, under the terms of the trust, a trust advisor or trust protector is a fiduciary, the duty of the trust advisor or trust protector to act in good faith and in accordance with the terms of the trust, the purposes of the trust, and the interests of the beneficiaries;
(16) to the extent that the trust is a charitable trust, the requirement that a trust advisor or trust protector is a fiduciary, regardless of whether the charitable trust was created before, on, or after the effective date of this paragraph or the trust advisor or trust protector accepted his, her, or its appointment before, on, or after the effective date of this paragraph; and
(17) to the extent that a trust is a charitable trust, the limitations on the trustee’s power to decant under N.H. Rev. Stat. § 564-B:4-418 and the limitations on the trustee’s power of modification under N.H. Rev. Stat. § 564-B:4-419.
(b) The terms of a trust prevail over any provision of this chapter except:
Terms Used In New Hampshire Revised Statutes 564-B:1-105
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- justice: when applied to a magistrate, shall mean a justice of a municipal court, or a justice of the peace having jurisdiction over the subject-matter. See New Hampshire Revised Statutes 21:12
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- spendthrift: shall include anyone who is liable to be put under guardianship on account of excessive drinking, gaming, idleness, debauchery or vicious habits of any kind, or who is unable to manage his affairs with prudence. See New Hampshire Revised Statutes 21:19
- Trustee: A person or institution holding and administering property in trust.
- Venue: The geographical location in which a case is tried.
(1) the requirements for creating a trust;
(2) the duty of a trustee to act in good faith and in accordance with the terms of the trust, the purposes of the trust, and the interests of the beneficiaries;
(3) the requirement that a trust and the terms of that trust be for the benefit of its beneficiaries as their interests are defined under the terms of the trust, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(4) the power of the court to modify or terminate a trust under N.H. Rev. Stat. § 564-B:4-410 through N.H. Rev. Stat. § 564-B:4-416;
(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in article 5;
(6) the power of the court under N.H. Rev. Stat. § 564-B:7-702 to require, dispense with, or modify or terminate a bond;
(7) the power of the court under N.H. Rev. Stat. § 564-B:7-708(b) to adjust a trustee’s compensation specified in the terms of the trust which is unreasonably low or high;
(8) the effect of an exculpatory term under N.H. Rev. Stat. § 564-B:10-1008;
(9) the rights under N.H. Rev. Stat. § 564-B:10-1010 through N.H. Rev. Stat. § 564-B:10-1013 of a person other than a trustee or beneficiary;
(10) statutory periods of limitation for commencing a judicial proceeding;
(11) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice;
(12) the subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in N.H. Rev. Stat. § 564-B:2-203 and N.H. Rev. Stat. § 564-B:2-204;
(13) an interested person’s rights under N.H. Rev. Stat. § 564-B:1-111A(b);
(14) the extent to which a no-contest provision is unenforceable or inapplicable under N.H. Rev. Stat. § 564-B:10-1014;
(15) if, under the terms of the trust, a trust advisor or trust protector is a fiduciary, the duty of the trust advisor or trust protector to act in good faith and in accordance with the terms of the trust, the purposes of the trust, and the interests of the beneficiaries;
(16) to the extent that the trust is a charitable trust, the requirement that a trust advisor or trust protector is a fiduciary, regardless of whether the charitable trust was created before, on, or after the effective date of this paragraph or the trust advisor or trust protector accepted his, her, or its appointment before, on, or after the effective date of this paragraph; and
(17) to the extent that a trust is a charitable trust, the limitations on the trustee’s power to decant under N.H. Rev. Stat. § 564-B:4-418 and the limitations on the trustee’s power of modification under N.H. Rev. Stat. § 564-B:4-419.