New Hampshire Revised Statutes 564-B:4-410 – Modification or Termination of Trust; Proceedings for Approval or Disapproval
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(a) In addition to the methods of termination prescribed by N.H. Rev. Stat. § 564-B:4-411 through N.H. Rev. Stat. § 564-B:4-414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.
(b) Any of the following persons may commence a judicial proceeding to approve or disapprove a proposed modification or termination under N.H. Rev. Stat. § 564-B:4-411 through N.H. Rev. Stat. § 564-B:4-416, a proposed trust combination under N.H. Rev. Stat. § 564-B:4-417(a), or a proposed trust division under N.H. Rev. Stat. § 564-B:4-417(b):
(1) A trustee;
(2) A trust advisor or trust protector to the extent that, under the terms of the trust, the trust advisor or trust protector has:
(A) The power to modify the terms of the trust;
(B) The power to terminate the trust;
(C) The power to commence a judicial proceeding to modify the terms of the trust;
(D) The power to commence a judicial proceeding to terminate the trust;
(E) The power to direct the modification of the terms of the trust;
(F) The power to direct the termination of the trust; or
(G) Any substantially similar power;
(3) A beneficiary; or
(4) To the extent that the trust is a charitable trust, the director of charitable trusts.
(c) A settlor of a charitable trust may commence a judicial proceeding to modify the trust under N.H. Rev. Stat. § 564-B:4-413, and in that proceeding, the director of charitable trusts shall be a necessary party.
(d) A modification or termination under N.H. Rev. Stat. § 564-B:4-410, N.H. Rev. Stat. § 564-B:4-411, N.H. Rev. Stat. § 564-B:4-412, N.H. Rev. Stat. § 564-B:4-413, N.H. Rev. Stat. § 564-B:4-415, or N.H. Rev. Stat. § 564-B:4-416 shall not violate any of the trust’s material purposes.
(b) Any of the following persons may commence a judicial proceeding to approve or disapprove a proposed modification or termination under N.H. Rev. Stat. § 564-B:4-411 through N.H. Rev. Stat. § 564-B:4-416, a proposed trust combination under N.H. Rev. Stat. § 564-B:4-417(a), or a proposed trust division under N.H. Rev. Stat. § 564-B:4-417(b):
Terms Used In New Hampshire Revised Statutes 564-B:4-410
- 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
- Trustee: A person or institution holding and administering property in trust.
(1) A trustee;
(2) A trust advisor or trust protector to the extent that, under the terms of the trust, the trust advisor or trust protector has:
(A) The power to modify the terms of the trust;
(B) The power to terminate the trust;
(C) The power to commence a judicial proceeding to modify the terms of the trust;
(D) The power to commence a judicial proceeding to terminate the trust;
(E) The power to direct the modification of the terms of the trust;
(F) The power to direct the termination of the trust; or
(G) Any substantially similar power;
(3) A beneficiary; or
(4) To the extent that the trust is a charitable trust, the director of charitable trusts.
(c) A settlor of a charitable trust may commence a judicial proceeding to modify the trust under N.H. Rev. Stat. § 564-B:4-413, and in that proceeding, the director of charitable trusts shall be a necessary party.
(d) A modification or termination under N.H. Rev. Stat. § 564-B:4-410, N.H. Rev. Stat. § 564-B:4-411, N.H. Rev. Stat. § 564-B:4-412, N.H. Rev. Stat. § 564-B:4-413, N.H. Rev. Stat. § 564-B:4-415, or N.H. Rev. Stat. § 564-B:4-416 shall not violate any of the trust’s material purposes.