Bill > SB52

This bill modifies the New Hampshire Trust Code by expanding and clarifying the roles and limitations of trustees, trust advisors, and trust protectors (collectively referred to as "fiduciaries"). The bill prevents a beneficiary from removing a trustee and replacing them with a relative or subordinate unless specific conditions are met, such as the trustee's discretionary power being limited by an ascertainable standard and not being exercisable to satisfy the beneficiary's legal obligations. The legislation broadens the definition of who can be considered a trustee by including trust advisors and protectors, and allows fiduciaries more flexibility in making discretionary distributions among beneficiaries. Additionally, the bill repeals previous limitations on trustees who are also beneficiaries, potentially giving them more latitude in managing trusts. These changes aim to provide greater clarity and flexibility in trust management while maintaining safeguards to prevent potential conflicts of interest. The bill will take effect 60 days after its passage, giving trustees, legal professionals, and trust administrators time to understand and implement the new provisions.

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https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=1071&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=SB52