New Hampshire Revised Statutes 564:9 – Removal or Replacement
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I. A trustee who, in the opinion of the judge, becomes incompetent, unsuitable, or who shall neglect or refuse to comply with the provisions of this chapter may be removed following a hearing which is preceded by notice to the trustee, all known beneficiaries, and such other persons determined by the judge to be interested in the trust.
II. A beneficiary or co-trustee of a trust who believes that the existing trustee should be replaced by a more suitable trustee may petition the court for such replacement. Upon receiving such a petition, and upon the court’s determination that all other known beneficiaries have been notified, the court may remove the existing trustee and appoint a replacement trustee when, upon considering all relevant factors, the court finds that a change in trustee would be in keeping with the intent of the grantor, provided further that in deciding whether to replace a trustee, the court may consider the following additional factors in making such determination:
(a) It would substantially improve or benefit the administration of the trust.
(b) The relationship between the grantor and the trustee as it existed at the time the trust was created.
(c) Changes in the nature of the trustee since the creation of the trust.
(d) The relationship of the trustee with the beneficiaries.
(e) The responsiveness of the trustee to the beneficiaries.
(f) The experience and level of skill of the trustee.
(g) The investment performance of the trustee.
(h) The charges for services performed by the trustee.
(i) Any other reasonable factors pertaining to the administration of the trust.
III. This section shall apply to a trust or trustee of a trust, as defined in N.H. Rev. Stat. § 564-A:1.
II. A beneficiary or co-trustee of a trust who believes that the existing trustee should be replaced by a more suitable trustee may petition the court for such replacement. Upon receiving such a petition, and upon the court’s determination that all other known beneficiaries have been notified, the court may remove the existing trustee and appoint a replacement trustee when, upon considering all relevant factors, the court finds that a change in trustee would be in keeping with the intent of the grantor, provided further that in deciding whether to replace a trustee, the court may consider the following additional factors in making such determination:
Terms Used In New Hampshire Revised Statutes 564:9
- 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
- Grantor: The person who establishes a trust and places property into it.
- petition: when used in connection with the equity jurisdiction of the superior court, and referring to a document filed with the court, shall mean complaint, and "petitioner" shall mean plaintiff. See New Hampshire Revised Statutes 21:51
- Trustee: A person or institution holding and administering property in trust.
(a) It would substantially improve or benefit the administration of the trust.
(b) The relationship between the grantor and the trustee as it existed at the time the trust was created.
(c) Changes in the nature of the trustee since the creation of the trust.
(d) The relationship of the trustee with the beneficiaries.
(e) The responsiveness of the trustee to the beneficiaries.
(f) The experience and level of skill of the trustee.
(g) The investment performance of the trustee.
(h) The charges for services performed by the trustee.
(i) Any other reasonable factors pertaining to the administration of the trust.
III. This section shall apply to a trust or trustee of a trust, as defined in N.H. Rev. Stat. § 564-A:1.