New Hampshire § 564-B:5-505B Coordination with Qualified Dispositions in Trusts

New Hampshire Statutes

§ 564-B:5-505B — Coordination with Qualified Dispositions in Trusts

New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-B NEW HAMPSHIRE TRUST CODE·Subdivision ARTICLE 5CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS

(a)On the effective date of RSA 564-B:5-505A, RSA 564-B:5-505A shall apply to:

(1)Any transfer that:

(A)Was made before the effective date of RSA 564-B:5-505A; and

(B)Qualified as a qualified disposition within the meaning of RSA 564-D:1, VII, as in effect immediately before the effective date of RSA 564-B:5-505A; and

(2)Any trust into which, before the effective date of RSA 564-B:5-505A, there was a transfer described in subsection (a)(1).

(b)Except as otherwise permitted under RSA 564-B:5-505A, a creditor or assignee of a settlor may not avoid a transfer described in subsection (a)(1) if the creditor or assignee could not have avoided the transfer under RSA 564-D as in effect immediately before the effective date of RSA 564-B:5-505A.

(c)Except as otherwise permitted under RSA 564-

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(a) On the effective date of RSA 564-B:5-505A, RSA 564-B:5-505A shall apply to:
(1) Any transfer that:
(A) Was made before the effective date of RSA 564-B:5-505A; and
(B) Qualified as a qualified disposition within the meaning of RSA 564-D:1, VII, as in effect immediately before the effective date of RSA 564-B:5-505A; and
(2) Any trust into which, before the effective date of RSA 564-B:5-505A, there was a transfer described in subsection (a)(1).
(b) Except as otherwise permitted under RSA 564-B:5-505A, a creditor or assignee of a settlor may not avoid a transfer described in subsection (a)(1) if the creditor or assignee could not have avoided the transfer under RSA 564-D as in effect immediately before the effective date of RSA 564-B:5-505A.
(c) Except as otherwise permitted under RSA 564-B:5-505A, a creditor or assignee of a settlor may not reach any property of a trust described in subsection (a)(2) if the creditor or assignee could not have reached the property under RSA 564-D as in effect immediately before the effective date of RSA 564-B:5-505A.

New Hampshire § 564-B:5-505B (Coordination with Qualified Dispositions in Trusts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.