New Hampshire § 564-B:7-704 Vacancy in Trusteeship;  Appointment of Successor

New Hampshire Statutes

§ 564-B:7-704 — Vacancy in Trusteeship; Appointment of Successor

New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-B NEW HAMPSHIRE TRUST CODE·Subdivision ARTICLE 7OFFICE OF TRUSTEE

(a)A vacancy in a trusteeship occurs if:

(1)a person designated as trustee rejects the trusteeship;

(2)a person designated as trustee cannot be identified or does not exist;

(3)a trustee resigns;

(4)a trustee is disqualified or removed;

(5)a trustee dies; or

(6)a guardian of the estate or guardian of the person or conservator is appointed for an individual serving as trustee.

(b)If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.

(c)A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:

(1)by a person designated in the terms of the trust to act as successor trustee;

(2)by a person app

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(a) A vacancy in a trusteeship occurs if:
(1) a person designated as trustee rejects the trusteeship;
(2) a person designated as trustee cannot be identified or does not exist;
(3) a trustee resigns;
(4) a trustee is disqualified or removed;
(5) a trustee dies; or
(6) a guardian of the estate or guardian of the person or conservator is appointed for an individual serving as trustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee;
(2) by a person appointed by unanimous agreement of the qualified beneficiaries; or
(3) by a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee;
(2) by a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the director of charitable trusts concurs in the selection; or
(3) by a person appointed by the court.
(e) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.

New Hampshire § 564-B:7-704 (Vacancy in Trusteeship; Appointment of Successor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.