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

New Hampshire § 564-B:5-505B

• Jurisdiction: 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

Text

(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.

Legislative History

2017, 257:21, eff. Sept. 16, 2017.