New Hampshire Revised Statutes 564-C:6-602 – Application of Chapter to Trusts and Estates
Current as of: 2023 | Check for updates
|
Other versions
(a) The effective date of this chapter shall be January 1, 2007.
(b) Except as otherwise provided in this chapter, on the effective date of this chapter, the chapter shall apply:
(1) to every inter vivos trust created on or after the effective date of this chapter except as otherwise expressly provided in the terms of the trust or in this chapter;
(2) to any inter vivos trust created before the effective date of this chapter upon the election of the trustee to apply this chapter made in writing and delivered to the beneficiaries then entitled to receive income and principal from the trust;
(3) to any estate or testamentary trust of a decedent who dies on or after the effective date of this chapter; and
(4) to any other estate or testamentary trust upon the approval by a court of competent jurisdiction, upon either (A) a petition filed by an interested person or (B) the court on its own motion.
(c) Nothing in this section imposes a duty on the trustee or any other fiduciary to make an election under this section, and the trustee or any other fiduciary is not liable for failing to make an election under this section.
(d) Nothing in this chapter shall be construed to affect or change the form of accounting required under the rules of the probate court.
(b) Except as otherwise provided in this chapter, on the effective date of this chapter, the chapter shall apply:
Terms Used In New Hampshire Revised Statutes 564-C:6-602
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- Inter vivos: Transfer of property from one living person to another living person.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- 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
- Probate: Proving a will
- Trustee: A person or institution holding and administering property in trust.
(1) to every inter vivos trust created on or after the effective date of this chapter except as otherwise expressly provided in the terms of the trust or in this chapter;
(2) to any inter vivos trust created before the effective date of this chapter upon the election of the trustee to apply this chapter made in writing and delivered to the beneficiaries then entitled to receive income and principal from the trust;
(3) to any estate or testamentary trust of a decedent who dies on or after the effective date of this chapter; and
(4) to any other estate or testamentary trust upon the approval by a court of competent jurisdiction, upon either (A) a petition filed by an interested person or (B) the court on its own motion.
(c) Nothing in this section imposes a duty on the trustee or any other fiduciary to make an election under this section, and the trustee or any other fiduciary is not liable for failing to make an election under this section.
(d) Nothing in this chapter shall be construed to affect or change the form of accounting required under the rules of the probate court.