News & Library

New Hampshire Introduces Foundation Act

By Todd D. Mayo New Hampshire has introduced a bill that would allow the formation, registration, and domestication of foundations. The bill (SB 225), which has already received a favorable vote in the state senate, would establish the New Hampshire Foundation Act. With the enactment of the Foundation Act, New Hampshire would become the first U.S. jurisdiction to permit the establishment of civil-law foundations. If the bill passes, the Foundation Act will be effective October 1, 2017. By recognizing foundations, New Hampshire would enable families from countries in which foundations are preferable to trusts as wealth management vehicles to avail themselves of a U.S.-based structure. Nature of a Foundation Under the Foundation Act, a foundation is a legal entity that holds and manages its assets for the benefit of its beneficiaries or in furtherance of its…

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New Hampshire’s Attractive Landscape for Trusts and Trust Companies

  For wealthy families, New Hampshire is one of most attractive states in which to create and manage their trusts. New Hampshire offers a trust- and business-friendly landscape that combines family trust companies, modern trust laws, and a favorable tax environment. That combination facilitates creative trust design and efficient administration, which can more effectively achieve a family’s wealth planning goals. Modern Trust Laws New Hampshire has a robust set of modern trust laws, which afford settlors broad flexibility and creativity in designing trusts well suited to their specific needs and wishes. Those laws facilitate the more efficient administration of trusts and importantly provide a high level of certainty concerning the rights, duties, and powers of settlors, beneficiaries, trustees, trust advisors, and trust protectors. Two important themes run through New Hampshire’s…

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