New Hampshire Revised Statutes 564-B:12-1201 – Powers of Trust Advisors and Trust Protectors
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(a) A trust protector or trust advisor is any person, other than a trustee, who under the terms of the trust, an agreement of the qualified beneficiaries, or a court order has a power or duty with respect to a trust, including, without limitation, one or more of the following powers:
(1) the power to modify or amend the trust instrument to achieve favorable tax status or respond to changes in any applicable federal, state, or other tax law affecting the trust, including (without limitation) any rulings, regulations, or other guidance implementing or interpreting such laws;
(2) the power to amend or modify the trust instrument to take advantage of changes in the rule against perpetuities, laws governing restraints on alienation, or other state laws restricting the terms of the trust, the distribution of trust property, or the administration of the trust;
(3) the power to appoint a successor trust protector or trust advisor;
(4) the power to review and approve a trustee’s trust reports or accountings;
(5) the power to change the governing law or principal place of administration of the trust;
(6) the power to remove and replace any trust advisor or trust protector for the reasons stated in the trust instrument;
(7) the power to remove a trustee, cotrustee, or successor trustee, for the reasons stated in the trust instrument, and appoint a successor;
(8) the power to consent to a trustee’s or cotrustee’s action or inaction in making distributions to beneficiaries;
(9) the power to increase or decrease any interest of the beneficiaries in the trust, to grant a power of appointment to one or more trust beneficiaries, or to terminate or amend any power of appointment granted in the trust; however, a modification, amendment or grant of a power of appointment may not grant a beneficial interest in a charitable trust with only charitable beneficiaries to any non-charitable interest or purpose and may not grant a beneficial interest in any trust to the trust protector or trust advisor, or to the estate or for the benefit of the creditors of such trust protector or such trust advisor;
(10) the power to perform a specific duty or function that would normally be required of a trustee or cotrustee;
(11) the power to advise the trustee or cotrustee concerning any beneficiary;
(12) the power to consent to a trustee’s or cotrustee’s action or inaction relating to investments of trust assets; and
(13) the power to direct the acquisition, disposition, or retention of any trust investment.
(b) To the extent that a trust advisor or trust protector exercises a power in accordance with the terms of the trust, the trust advisor’s or trust protector’s action is binding upon all other persons.
(1) the power to modify or amend the trust instrument to achieve favorable tax status or respond to changes in any applicable federal, state, or other tax law affecting the trust, including (without limitation) any rulings, regulations, or other guidance implementing or interpreting such laws;
Terms Used In New Hampshire Revised Statutes 564-B:12-1201
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- Trustee: A person or institution holding and administering property in trust.
(2) the power to amend or modify the trust instrument to take advantage of changes in the rule against perpetuities, laws governing restraints on alienation, or other state laws restricting the terms of the trust, the distribution of trust property, or the administration of the trust;
(3) the power to appoint a successor trust protector or trust advisor;
(4) the power to review and approve a trustee’s trust reports or accountings;
(5) the power to change the governing law or principal place of administration of the trust;
(6) the power to remove and replace any trust advisor or trust protector for the reasons stated in the trust instrument;
(7) the power to remove a trustee, cotrustee, or successor trustee, for the reasons stated in the trust instrument, and appoint a successor;
(8) the power to consent to a trustee’s or cotrustee’s action or inaction in making distributions to beneficiaries;
(9) the power to increase or decrease any interest of the beneficiaries in the trust, to grant a power of appointment to one or more trust beneficiaries, or to terminate or amend any power of appointment granted in the trust; however, a modification, amendment or grant of a power of appointment may not grant a beneficial interest in a charitable trust with only charitable beneficiaries to any non-charitable interest or purpose and may not grant a beneficial interest in any trust to the trust protector or trust advisor, or to the estate or for the benefit of the creditors of such trust protector or such trust advisor;
(10) the power to perform a specific duty or function that would normally be required of a trustee or cotrustee;
(11) the power to advise the trustee or cotrustee concerning any beneficiary;
(12) the power to consent to a trustee’s or cotrustee’s action or inaction relating to investments of trust assets; and
(13) the power to direct the acquisition, disposition, or retention of any trust investment.
(b) To the extent that a trust advisor or trust protector exercises a power in accordance with the terms of the trust, the trust advisor’s or trust protector’s action is binding upon all other persons.