This bill establishes community property trusts in New Hampshire, allowing married couples to create a legal framework for managing and distributing their property. The new legal language introduces Article 13 to RSA 564-B, titled the "New Hampshire Community Property Trust Act of 2026." It defines key terms such as "community property," "community property trust," and "settlor spouses," and outlines the qualifications for establishing such a trust. The bill specifies that a community property trust must be signed by both spouses, include a qualified trustee, and contain a warning about the extensive consequences of the trust, emphasizing the need for careful consideration before signing.

Additionally, the bill details the rights and obligations of spouses regarding property transferred to the trust, including provisions for amending or revoking the trust, managing the property, and satisfying obligations to creditors. It stipulates that upon the death of a spouse, the trust's assets will be divided equally, and upon dissolution of the marriage, the trust will terminate with assets distributed equally unless otherwise agreed. The act is set to take effect on January 1, 2026, and is noted to have no fiscal impact on state, county, or local expenditures or revenue.

Statutes affected:
Introduced: 78-B:2