The New Hampshire Trust Council (NHTC) formally announced to today that Scott Baker will act as chairman of the newly formed non-profit organization. The NHTC will provide a forum for addressing mutual interests and strengthening the Granite State’s position as the industry leader nationwide.
Mr. Baker, a principal of Hampton-based Perspecta Trust, said, “New Hampshire now has the nation’s most favorable trust laws and tax code for individuals establishing trusts. The Council will serve as a single voice for our industry and promote broadly the state’s advantages as a trust venue. We want our fellow citizens to be aware of these opportunities so they can make fully informed decisions in determining the jurisdictions of their trusts.”
In recent years, the New Hampshire Legislature has enacted numerous initiatives that have enabled New Hampshire to significantly enhance its competitive position in attracting trust business. Mr. Baker also pointed out that, contrary to a widely held belief, it is not necessary to reside in a specific state to establish a trust in that state. “Whether one lives in Massachusetts, New York, Florida, or any other state, you can create New Hampshire-based trusts and have them governed by our state’s progressive trust laws and tax code. Through the efforts of the Council, we hope to more fully inform the public of New Hampshire’s benefits in this area.” NHTC will operate as a nonprofit organization, and its membership will include independent trust companies in the state as well as other participants that are involved with trusts.
The NHTC will celebrate the launch of the organization on Thursday, September 16, at Bonta in Hampton, New Hampshire. The evening will provide a great opportunity to meet with colleagues within the industry, as we as representatives of our state government.