§ 564-B:4-402A — Duration of Trusts

New Hampshire § 564-B:4-402A

• Jurisdiction: New Hampshire
• Title LVI: PROBATE COURTS AND DECEDENTS' ESTATES
• Ch. 564-B: NEW HAMPSHIRE TRUST CODE
• Subdivision: ARTICLE 4CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUST

Text

(a) Unless a trust is subject to the rule against perpetuities or is a trust for the care of an animal under RSA 564-B:4-408, a trust may be perpetual or may exist for any shorter period of time.
(b) The rule against perpetuities shall not apply to a trust or any disposition of trust property if:
(1) the terms of the trust expressly exempt the trust from the application of the rule against perpetuities; and
(2) under the terms of the trust, an applicable statute, or common law, the trustee or other person to whom the power is properly granted or delegated has the power to sell, mortgage, or lease trust property for any period of time beyond the period that, if this section did not apply to the trust, would be required for an interest in the trust to vest in order to be valid under the rule against perpetuities.
(c) The rule against accumulations shall not apply to any trust to which the rule against perpetuities does not apply.
(d) Subsections (b) and (c) apply to any trust created on or after January 1, 2004. This section otherwise applies to any trust created before, on, or after the effective date of this chapter.

Legislative History

2014, 195:14, eff. July 1, 2014.