New Hampshire Revised Statutes 564-B:5-508 – Disposition of Claims Against the Settlor
Current as of: 2023 | Check for updates
|
Other versions
(a) Upon the death of a settlor of a trust, a trustee may dispose of a known claim against the settlor if the trustee sends to the claimant a notice described in subsection (c). For purposes of this section, a “known claim” is an actual or potential claim of which the trustee has knowledge, but excludes a contingent liability or a claim based on an event occurring after the date of the settlor’s death.
(b) Upon the death of a settlor of a trust, a trustee may dispose of any unknown claims against the settlor if the trustee publishes a notice described in subsection (c). The notice shall be published once in a newspaper of general circulation in the county in which, at the time of his or her death, the settlor was domiciled. For purposes of this section, an unknown claim is a claim that is not a known claim, but excludes a contingent liability or a claim based on an event occurring after the date of the settlor’s death.
(c) For purposes of subsections (a) and (b), the notice shall contain the following information and statements:
(1) The notice shall state that the settlor has died. The notice shall provide the trustee’s name and mailing address, and the notice shall provide the settlor’s name, the settlor’s place of domicile at the time of his or her death, and the settlor’s date of death.
(2) In the case of a notice under subsection (a), the notice shall state that any claim against the settlor will be barred unless a proceeding to enforce the claim is commenced within one year after the date on which the trustee sent the notice.
(3) In the case of a notice under subsection (b), the notice shall state that any claim against the settlor will be barred unless a proceeding to enforce the claim is commenced within one year after the publication date of the notice.
(d) If a trustee sends a notice in accordance with subsection (a), then a known claim against the settlor shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the date on which the trustee sent the notice. If a trustee publishes a notice in accordance with subsection (b), then an unknown claim against the settlor shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the publication date of the notice. The trustee and a claimant may agree to toll the limitation period under this subsection.
(e) To the extent that the trustee acts in good faith, the trustee is not liable to any person for exercising the discretion to dispose of claims under this section or not exercising that discretion.
(f) This section shall not bar any claim that the director of charitable trusts or the department of health and human services has the authority to enforce.
(b) Upon the death of a settlor of a trust, a trustee may dispose of any unknown claims against the settlor if the trustee publishes a notice described in subsection (c). The notice shall be published once in a newspaper of general circulation in the county in which, at the time of his or her death, the settlor was domiciled. For purposes of this section, an unknown claim is a claim that is not a known claim, but excludes a contingent liability or a claim based on an event occurring after the date of the settlor’s death.
Terms Used In New Hampshire Revised Statutes 564-B:5-508
- 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.
(c) For purposes of subsections (a) and (b), the notice shall contain the following information and statements:
(1) The notice shall state that the settlor has died. The notice shall provide the trustee’s name and mailing address, and the notice shall provide the settlor’s name, the settlor’s place of domicile at the time of his or her death, and the settlor’s date of death.
(2) In the case of a notice under subsection (a), the notice shall state that any claim against the settlor will be barred unless a proceeding to enforce the claim is commenced within one year after the date on which the trustee sent the notice.
(3) In the case of a notice under subsection (b), the notice shall state that any claim against the settlor will be barred unless a proceeding to enforce the claim is commenced within one year after the publication date of the notice.
(d) If a trustee sends a notice in accordance with subsection (a), then a known claim against the settlor shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the date on which the trustee sent the notice. If a trustee publishes a notice in accordance with subsection (b), then an unknown claim against the settlor shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the publication date of the notice. The trustee and a claimant may agree to toll the limitation period under this subsection.
(e) To the extent that the trustee acts in good faith, the trustee is not liable to any person for exercising the discretion to dispose of claims under this section or not exercising that discretion.
(f) This section shall not bar any claim that the director of charitable trusts or the department of health and human services has the authority to enforce.