Section 564-B:5-505 - Creditor's Claim Against a Settlor of a Revocable Trust(a) During the settlor's life, the property of a revocable trust is subject to claims of the settlor's creditors regardless of whether the trust contains a spendthrift provision.(b) After the settlor's death and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable immediately before the settlor's death is subject to the following claims to the extent that the settlor's probate estate is inadequate to satisfy those claims:(1) Claims of the settlor's creditors;(2) Costs of administration of the settlor's estate; and(3) Expenses of the settlor's funeral and disposal of remains.(c) Subsection (b) shall apply to a trust regardless of whether the trust contains a spendthrift provision.(d) Subsection (b) shall not apply to: (1) The proceeds and any other benefits of a policy of life or endowment insurance effected by a settlor, a trustee, or any other person on the settlor's life or another individual's life as provided in RSA 408:6; or(2) Any claim barred under RSA 564-B:5-508.(e) During only the period that the power of withdrawal may be exercised, the holder of a power of withdrawal shall be treated in the same manner under this section as the settlor of a revocable trust to the extent of the property subject to the power of withdrawal.Amended by 2022 , 144: 2, eff. 1/1/2023.Amended by 2017 , 257: 20, eff. 9/16/2017.Amended by 2014 , 195: §§18, 19, 20 eff. 7/1/2014. 2004, 130:1. 2005, 270:15, eff. Sept. 20, 2005. 2008, 374:10-12, eff. Sept. 9, 2008.