New Hampshire § 564-B:5-505 Creditor's Claim Against a Settlor of a Revocable Trust

New Hampshire Statutes

§ 564-B:5-505 — Creditor's Claim Against a Settlor of a Revocable Trust

New Hampshire § 564-B:5-505

Title LVIPROBATE COURTS AND DECEDENTS' ESTATES

Ch. 564-BNEW HAMPSHIRE TRUST CODE

SubdivisionARTICLE 5CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS

This text of New Hampshire § 564-B:5-505 (Creditor's Claim Against a Settlor of a Revocable Trust) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 564-B:5-505 (2026).

Text

(a)During the settlor's life, the property of a revocable trust is subject to claims of the settlor's creditors regardless of whether the trust contains a spendthrift provision.

(b)After the settlor's death and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable immediately before the settlor's death is subject to the following claims to the extent that the settlor's probate estate is inadequate to satisfy those claims:

(1)Claims of the settlor's creditors;

(2)Costs of administration of the settlor's estate; and

(3)Expenses of the settlor's funeral and disposal of remains.

(c)Subsection (b) shall apply to a trust regardless of whether the trust contains a spendthrift provision.

(d)Subsection (b) shall no

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(a) During the settlor's life, the property of a revocable trust is subject to claims of the settlor's creditors regardless of whether the trust contains a spendthrift provision.
(b) After the settlor's death and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable immediately before the settlor's death is subject to the following claims to the extent that the settlor's probate estate is inadequate to satisfy those claims:
(1) Claims of the settlor's creditors;
(2) Costs of administration of the settlor's estate; and
(3) Expenses of the settlor's funeral and disposal of remains.
(c) Subsection (b) shall apply to a trust regardless of whether the trust contains a spendthrift provision.
(d) Subsection (b) shall not apply to:
(1) The proceeds and any other benefits of a policy of life or endowment insurance effected by a settlor, a trustee, or any other person on the settlor's life or another individual's life as provided in RSA 408:6; or
(2) Any claim barred under RSA 564-B:5-508.
(e) During only the period that the power of withdrawal may be exercised, the holder of a power of withdrawal shall be treated in the same manner under this section as the settlor of a revocable trust to the extent of the property subject to the power of withdrawal.

Legislative History

2004, 130:1. 2005, 270:15, eff. Sept. 20, 2005. 2008, 374:10-12, eff. Sept. 9, 2008. 2014, 195:18-20, eff. July 1, 2014. 2017, 257:20, eff. Sept. 16, 2017. 2022, 144:2, eff. Jan. 1, 2023.