Monday, March 8, 2010
An abstract from the introduction of the note is below:
Late last summer Governor Lynch signed into law Senate Bill 465, designed to further update New Hampshire's trust law.
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Effective Jan. 2, 2009, the New Qualified Distributions in Trust Act allows beneficiaries to "self settle" irrevocable spend thrift trusts--for example, put assets into trust for their own benefit, while placing those assets, in many circumstances, out of the reach of most creditors. This article will attempt to answer some questions about these trusts. Will RSA 564-D succeed in increasing New Hampshire's share of the domestic trust business? Will these new trusts prove to be effective against creditors? Finally, what are the policy implications of these new trust?