[ §554D-1104] Application to existing relationships.
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[ §554D-1104] Application to existing relationships.
(a)Except as otherwise provided in this chapter, on January 1, 2022:
(1)This chapter applies to all trusts created before, on, or after January 1, 2022;
(2)This chapter applies to all judicial proceedings concerning trusts commenced on or after January 1, 2022;
(3)This chapter applies to judicial proceedings concerning trusts commenced before January 1, 2022, unless the court finds that application of a particular provision of this chapter would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision of this chapter shall not apply and the superseded law applies;
(4)Any rule of construction or presumption provided in this chapter applies to trust instruments executed before January 1, 2022, unless there is a clear indication of a contrary intent in the terms of the trust; and
(5)An act done before January 1, 2022, is not affected by this chapter.
(b)If a right is acquired, extinguished, or barred upon the expiration of a prescribed period that has commenced to run under any other statute before January 1, 2022, that statute continues to apply to the right even if it has been repealed or superseded. [L 2021, c 32, pt of §2]
Revision Note
"January 1, 2022" and "January 1, 2022," substituted for "the effective date of this chapter", "its effective date", and "the effective date of the chapter", as appropriate, pursuant to §23G-15.