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. The new law simplifies, clarifies, and reorganizes the banking, trust company, and family trust laws. The new law eliminates 21 chapters of statutes—which were sometimes potentially confusing and redundant—and replaces them with just five chapters. The new chapters include a chapter devoted to trust companies and a chapter devoted to family trust companies. In contrast to many aspects of prior law which were written in another era and often did…


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. The new law simplifies, clarifies, and reorganizes the banking, trust company, and family trust laws. The new law eliminates 21 chapters of statutes—which were sometimes potentially confusing and redundant—and replaces them with just five chapters. The new chapters include a chapter devoted to trust companies and a chapter devoted to family trust companies. In contrast to many aspects of prior law which were written in another era and often did…


Bloomberg BNA Daily Tax Report Quotes Perspecta Trust Principal 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,’’ a principal with Perspecta Trust LLC., Todd Mayo, 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 the hallmarks of a…