Section 564-B:5-502 Spendthrift Provision. - New Hampshire Statutes

      (a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.
      (b) A term of a trust providing that the interest of a beneficiary is held subject to a ""spendthrift trust,"" or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.
      (c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this article, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.

Source. 2004, 130:1, eff. Oct. 1, 2004.