Bill Ardinger Authors Article on Ground-Breaking Trust Company Legislation

New Hampshire Bar Journal, December 1, 2006

Bill Ardinger, Director of the Tax Practice Group at Rath, Young and Pignatelli, P.C., has co-authored with Attorney Michelle Arruda an article in the New Hampshire Bar Journal, "The Policy and Provisions of the Trust Modernization and Competitiveness Act of 2006." Commenting on this legislation's enactment, The Wall Street Journal reported that the “latest entrant in the trust wars is New Hampshire, whose governor signed into law this week a bill that seeks to surpass most other states in innovative trust features.”

Ardinger and Arruda's article examines this ground-breaking legislative initiative which makes significant changes to New Hampshire’s statutes in two areas: (1) those governing trust companies, which are regulated by the Banking Department; and (2) those governing the establishment and administration of trusts.

The article summarizes the principal policy considerations that led to enactment of the TMCA, it identifies and discusses some of the important provisions of the TMCA, and it concludes with some thoughts about what will be required if New Hampshire intends to maintain a leading position in this area.

Rath, Young and Pignatelli, P.C. represented Trust New Hampshire First, LLC in researching, developing, drafting and lobbying for the enactment of the Trust Modernization and Competitiveness Act. This successful legislative and policy representation was led by Mr. Ardinger and David Collins, Director of the firm's Government Relations Practice Group. For a case study and more information on this legislative/policy effort, please click here.

For more information on the legislation and its implementation in New Hampshire, please contact Bill Ardinger.

To read the full article, click on the link below.

Policy & Provisions of NH TMCA 2006.pdf