CHAPTER 97
SB 466 – FINAL VERSION
01/31/08 0127s
2008 SESSION
09/01
SENATE BILL 466
AN ACT relative to probate court jurisdiction over special needs trusts.
SPONSORS: Sen. Sgambati, Dist 4; Sen. Reynolds, Dist 2; Rep. Bleyler, Graf 9; Rep. MacKay, Merr 11
COMMITTEE: Health and Human Services
This bill grants the probate courts jurisdiction to order the creation of certain special needs trusts.
This bill was requested by the department of health and human services.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
01/31/08 0127s
08-2691
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eight
AN ACT relative to probate court jurisdiction over special needs trusts.
Be it Enacted by the Senate and House of Representatives in General Court convened:
97:1 Probate Court Jurisdiction; Creation of Special Needs Trusts. Amend RSA 547:3, I(c) to read as follows:
(c) The interpretation and construction of wills and the creation by judgment or decree, interpretation, construction, modification, and termination of those trusts described in RSA 564-A:1, I.
97:2 Certain Provisions Regarding Trusts; Definitions. Amend RSA 564-A:1, I to read as follows:
I. “Trust” means an express trust created by: a judgment or decree of the probate court, including a special needs trust authorized by 42 U.S.C. 1396p(d)(4)(A) and (C); and a trust instrument, including a will, whereby a trustee has the duty to administer a trust asset for the benefit of a named or otherwise described income or principal beneficiary, or both[;]. “Trust” does not include a resulting or constructive trust, a business trust which provides for certificates to be issued to the beneficiary, an investment trust, a voting trust, a security instrument, a trust created by the judgment or decree [of a] by any other court, a liquidation trust, or a trust for the primary purpose of paying dividends, interest, interest coupons, salaries, wages, pensions or profits, or employee benefits of any kind, an instrument wherein a person is nominee or escrowee for another, a trust created in deposits in any financial institution, or other trust the nature of which does not admit of general trust administration;
97:3 Uniform Trust Code; Subject Matter Jurisdiction. Amend RSA 564-B:2-203(a) to read as follows:
(a) Except as provided in subsection (b) of this section, the probate court shall have exclusive jurisdiction of the creation by judgment or decree, interpretation, construction, modification, termination, and administration of those trusts described in RSA 564-A:1, I, and over the appointment, removal, and surcharge of trustees of such trusts.
97:4 Uniform Trust Code; Methods of Creating Trusts. Amend RSA 564-B:4-401(2) and (3) to read as follows:
(2) declaration by the owner of property that the owner holds identifiable property as trustee; [or]
(3) exercise of a power of appointment in favor of a trustee; or
(4) judgment or decree of a court.
97:5 Effective Date. This act shall take effect upon its passage.
Approved: May 21, 2008
Effective Date: May 21, 2008