The New Hampshire Trust Council has filed its first friend of the court (amicus) brief in the New Hampshire Supreme Court, in the matter of Hodges, et al. v. Johnson, et al., Docket No. 2016-0130. Prepared by Todd Mayo and Glenn Perlow of Perspecta Trust, the brief seeks reversal of a ruling by the 7th Circuit Court, Probate Division that voided a series of decantings of an irrevocable trust established in 2004.
Three beneficiaries, whose beneficial interests were extinguished as a result of the decantings, complained that the Trustees had failed to duly consider those interests when exercising discretionary powers under […]
The New Hampshire Trust Advantage: Why the Granite State Rocks When it Comes to Administering Trusts
This article was previously published in the June 2016 issue of Estate Planning (Thomson Reuters/Tax & Accounting) and in the Q3 2016 issue of Terralex.
Authors: STEVEN BURKE, THANDA FIELDS BRASSARD, VON E. SANBORN, AND CONSTANCE E. SHIELDS
The State of New Hampshire has some of the most progressive and flexible trust statutes in the United States. Consequently, it is one of the premier jurisdictions for establishing and administering trusts. Over the last decade, New Hampshire legislators have actively engaged in modernizing New Hampshire’s trust laws so that the state is an attractive safe-haven for both domestic and foreign private wealth. Among […]
CONCORD, N.H., July 30, 2015 (GLOBE NEWSWIRE) — On Monday, Governor Maggie Hassan signed into law a bill modernizing and simplifying New Hampshire’s trust company and family trust company laws (also known as private trust companies). The New Hampshire Trust Council (www.nhtrustcouncil.com) supported and helped to write the bill.
“By modernizing and simplifying the trust company and family trust company laws, the new law further enhances New Hampshire’s attractiveness on both the national and international stages as a leading trust jurisdiction,” said Todd D. Mayo, president of the New Hampshire Trust Council and a principal and general counsel of Perspecta Trust […]
On September 29, 2014, the New Hampshire Trust Council hosted its members, as well as other industry leaders and notable guests. Those guests included Senators Lou D’Allesandro and Jeb Bradley, Judge Gary Cassavechia, Bank Commissioner Glenn Perlow, Deputy Bank Commissioner Ingrid White, and Director of Trust Supervision Spencer Culp.
The reception afforded members and industry leaders an opportunity to talk informally with key policymakers and officials about issues affecting the state’s trust services sector. In addition, some of the notable guests made remarks.
Judge Cassavechia, who is the presiding judge of the state’s trust court, summarized the history of the court’s […]
New Hampshire Enhances Its Trust Laws
by the New Hampshire Trust Council
Revised July 28, 2014
In July 2014, New Hampshire enacted a sweeping new trust law. The new law includes:
- Enhanced protection of settlor intent
- Lifetime approval of wills and trusts
- Enforcement of arbitration or other nonjudicial dispute resolution procedures
- Rejection of the fiduciary exception to the attorney-client privilege
- Expansion and clarification of the decanting statute
- Creation of a trustee’s power to modify the terms of the trust
- Procedures for disposing of claims against a settlor or a trust
- Limitation on the liability of beneficiaries
This white paper summarizes those key features of the new law.
The Trust Council also has […]