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What is a nominee trust in NH?

The nominee trust is a special purpose trust used in the instant proposed transactions as an estate planning device. Such trusts are often used to avoid probate with privacy and to facilitate transfers of trust property.

Is Nominee Trust same as grantor trust?

There is a Principal/Agent relationship between the Trustees and the Beneficiaries, and it is somewhat the reverse where usually in a Grantor Trust, the Trustee instructs the Beneficiaries on what he will/is allowed to do for them, but in a Nominee Trust the Beneficiaries direct the Trustee.

How does putting your house in trust work?

If you put things into a trust, provided certain conditions are met, they no longer belong to you. This means that when you die their value normally wont be counted when your Inheritance Tax bill is worked out. Instead, the cash, investments or property belong to the trust.

Can you put a residential property into a trust?

Property is often transferred into a trust as part of inheritance tax planning however the trust needs to meet certain conditions and to be set up correctly by a solicitor. By putting a property into trust rather than making an outright gift, you are able to control how the property is used after it is given away.

How does a trust work in NH?

You choose a trustee who manages them during your lifetime for your benefit. It is most common to simply name yourself as the trustee. A successor trustee is put in place to take over after your death. After your death, your assets are distributed to the beneficiaries according to the provisions of the trust.

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