New Hampshire Streamlines Private Trust Company Rules

New Hampshire Modernizes Its Trust Company and Family Trust Company Laws CONCORD, N.H., July 30, 2015 (GLOBE NEWSWIRE) — On Monday, Governor Maggie Hassan signed into law a bill modernizing and simplifying New Hampshire’s trust company and family trust company laws (also known as private trust companies). The New Hampshire Trust Council (www.nhtrustcouncil.com) supported and helped to write the bill. “By modernizing and simplifying the trust company and family trust company laws, the new law further enhances New Hampshire’s attractiveness on both the national and international stages as a leading trust jurisdiction,” said Todd D. Mayo, president of the New Hampshire Trust Council and a principal and general counsel of Perspecta Trust (www.perspectatrust.com). Mr. Mayo was a member of the working group that drafted the new law. The new law…

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New Hampshire Streamlines Private Trust Company Rules

New Hampshire Modernizes Its Trust Company and Family Trust Company Laws CONCORD, N.H., July 30, 2015 (GLOBE NEWSWIRE) — On Monday, Governor Maggie Hassan signed into law a bill modernizing and simplifying New Hampshire’s trust company and family trust company laws (also known as private trust companies). The New Hampshire Trust Council (www.nhtrustcouncil.com) supported and helped to write the bill. “By modernizing and simplifying the trust company and family trust company laws, the new law further enhances New Hampshire’s attractiveness on both the national and international stages as a leading trust jurisdiction,” said Todd D. Mayo, president of the New Hampshire Trust Council and a principal and general counsel of Perspecta Trust (www.perspectatrust.com). Mr. Mayo was a member of the working group that drafted the new law. The new law…

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Bloomberg BNA Daily Tax Report Quotes Todd Mayo on Trust Protectors

Trust Protector’s Right to Wield Superpowers Gets Nod from State Courts by Diane Freda Bloomberg BNA Daily Tax Report, July 27, 2015 The trust protector role has traditionally been fairly limited, but some people have ‘‘gotten a little creative or cute with it,’’ Todd D. Mayo, a principal with Perspecta Trust LLC in Hampton, N.H., told Bloomberg BNA on July 20. Some trust protectors are taking on more of the function of a trustee, he said. ‘‘I have seen trust agreements in which the trust protector has the power to direct the trustee concerning investments. That means the trust protector has been vested with the investment power. And if you add on the distribution powers, now you’re really looking at a role that—even though it is called trust protector—has all…

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