§ 564-B:5-509 — Disposition of Claims Against a Trust

(a) Upon the termination of an irrevocable trust, a trustee may dispose of a known claim against the trust if the trustee sends to the claimant a notice described in subsection (c). For purposes of this section, a known claim is an actual or potential claim of which the trustee has knowledge, but excludes a contingent liability or a claim based on an event occurring after the date of the trust's termination.
(b) Upon the termination of an irrevocable trust, a trustee may dispose of any unknown claims against the trust if the trustee publishes a notice described in subsection (c). The notice shall be published once in a newspaper of general circulation in the county in which the trust's principal place of administration is located. For purposes of this section, an unknown claim is a claim that is not a known claim, but excludes a contingent liability or a claim based on an event occurring after the date of the trust's termination.
(c) For purposes of subsections (a) and (b), the notice shall contain the following information and statements:
(1) The notice shall state that the trust has terminated. The notice shall provide the trustee's name and mailing address, and the notice shall reasonably identify the trust.
(2) In the case of a notice under subsection (a), the notice shall state that any claim against the trust will be barred unless a proceeding to enforce the claim is commenced within one year after the date on which the trustee sent the notice.
(3) In the case of a notice under subsection (b), the notice shall state that any claim against the trust will be barred unless a proceeding to enforce the claim is commenced within one year after the publication date of the notice.
(d) If a trustee sends a notice in accordance with subsection (a), then a known claim against the trust shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the date on which the trustee sent the notice. If a trustee publishes a notice in accordance with subsection (b), then an unknown claim against the trust shall be barred unless the claimant commences a proceeding to enforce the claim within one year after the publication date of the notice. The trustee and a claimant may agree to toll the limitation period under this subsection (d).
(e) A claim against the trust does not include:
(1) any claim against a trustee, trust advisor, or trust protector by a beneficiary, trustee, trust advisor, or trust protector for a breach of trust; or
(2) any claim against a trustee, trust advisor, or trust protector under RSA 564-B:10-1003(a).
(f) To the extent that the trustee acts in good faith, the trustee is not liable to any person for exercising the discretion to dispose of claims under this section or not exercising that discretion.
(g) This section shall not bar any claim that the director of charitable trusts or the department of health and human services has the authority to enforce.

Legislative History

2014, 195:21, eff. July 1, 2014.