Probate is the legal process of settling a deceased person’s estate and transferring the remaining assets to devisees or heirs. Title LVI of the New Hampshire Revised Statutes governs the probate process in New Hampshire.
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A trust is a property interest wherein a settlor conveys assets to a trustee, who holds the title to those assets for the benefit of a third party (the beneficiary). Valid trust instruments also identify the relevant assets, state the settlor’s intentions for them, and are created for lawful purposes. Settlors (owners) transfer real property into a trust by executing and recording a deed.
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