New Hampshire Revised Statutes 564-B:5-501 – Creditor’s Claim Against a Beneficiary
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(a) To the extent that a beneficiary‘s interest in a trust is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary’s interest by:
(1) Attachment of present or future distributions to or for the benefit of the beneficiary; or
(2) Subject to N.H. Rev. Stat. § 564-B:5-504, any other means.
(b) The court may limit the relief under subsection (a) as is appropriate under the circumstances.
(c) Subject to N.H. Rev. Stat. § 564-B:5-504(b) and (c), a creditor or assignee of a beneficiary may not compel the beneficiary to exercise any right or power that, in any fiduciary or nonfiduciary capacity, the beneficiary has under the terms of the trust, including any of the following:
(1) Any power of appointment;
(2) Any power to direct or veto a distribution;
(3) Any power to appoint or remove a trustee, trust advisor, or trust protector; or
(4) Any right to receive reports, notices, or other information concerning the trust and its administration.
(1) Attachment of present or future distributions to or for the benefit of the beneficiary; or
Terms Used In New Hampshire Revised Statutes 564-B:5-501
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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.
- 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
- 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.
- Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
(2) Subject to N.H. Rev. Stat. § 564-B:5-504, any other means.
(b) The court may limit the relief under subsection (a) as is appropriate under the circumstances.
(c) Subject to N.H. Rev. Stat. § 564-B:5-504(b) and (c), a creditor or assignee of a beneficiary may not compel the beneficiary to exercise any right or power that, in any fiduciary or nonfiduciary capacity, the beneficiary has under the terms of the trust, including any of the following:
(1) Any power of appointment;
(2) Any power to direct or veto a distribution;
(3) Any power to appoint or remove a trustee, trust advisor, or trust protector; or
(4) Any right to receive reports, notices, or other information concerning the trust and its administration.