New Hampshire § 564-B:8-807 Delegation by Trustee to an Agent

New Hampshire Statutes

§ 564-B:8-807 — Delegation by Trustee to an Agent

New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-B NEW HAMPSHIRE TRUST CODE·Subdivision ARTICLE 8DUTIES AND POWERS OF TRUSTEE

(a)A trustee may delegate to any person, even if that person is associated or affiliated with the trustee, any duty, power, investment function, or management function that a prudent trustee of comparable skills could properly delegate under the circumstances.

(b)The trustee shall exercise reasonable care, skill, and caution in:

(1)selecting an agent;

(2)establishing the scope and terms of the delegation, consistent with the purposes of the trust and the terms of the trust; and

(3)periodically reviewing the agent's actions for the purpose of monitoring the agent's performance and compliance with the scope and terms of the delegation.

(c)In performing a delegated duty, power, or function, an agent owes a duty to the trust to exercise reasonable care to comply with the scope and terms

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(a) A trustee may delegate to any person, even if that person is associated or affiliated with the trustee, any duty, power, investment function, or management function that a prudent trustee of comparable skills could properly delegate under the circumstances.
(b) The trustee shall exercise reasonable care, skill, and caution in:
(1) selecting an agent;
(2) establishing the scope and terms of the delegation, consistent with the purposes of the trust and the terms of the trust; and
(3) periodically reviewing the agent's actions for the purpose of monitoring the agent's performance and compliance with the scope and terms of the delegation.
(c) In performing a delegated duty, power, or function, an agent owes a duty to the trust to exercise reasonable care to comply with the scope and terms of the delegation.
(d) A trustee who complies with subsection (a) and (b) is not liable to the beneficiaries or to the trust for an action of the agent to whom the duty, power, or function was delegated.
(e) A trustee's delegation of a duty, power, or function to an agent under a power of attorney shall not be valid unless the power of attorney expressly refers to the trustee in his, her, or its capacity as a trustee of the trust.
(f) In the case of a trustee who is an individual, the trustee's delegation of any duty, power, or function to an agent under a power of attorney shall terminate upon the trustee's incapacity unless:
(1) The terms of the trust provide that the delegation may remain effective during the trustee's incapacity; and
(2) The power of attorney provides, that the delegation does not terminate upon the trustee's incapacity.
(g) By accepting a delegation of a duty, power, or function from a trustee of a trust that has its principal place of administration in this state or subsequently changes its principal place of administration to this state, an agent shall be subject to the personal jurisdiction of the courts of this state regarding any matter involving the trust.

New Hampshire § 564-B:8-807 (Delegation by Trustee to an Agent) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.