Public-domain · open source
OpenJurist

N.J. Stat. Ann. § 3B:31-61

Powers to direct

Known as the Uniform Trust Code

The act spans §§ 3B:31-1 to 3B:31-9 (84 sections).

L.2015, c.276, s.1.

Powers to Direct.

a. While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust.

b. If the terms of a trust confer upon a person other than the settlor of a revocable trust the power to direct certain actions of the trustee, the trustee shall act in accordance with a written exercise of the power unless the attempted exercise is contrary to the terms of the trust or the trustee knows the attempted exercise would constitute a breach of a fiduciary duty that the person holding the power owes to the beneficiaries of the trust.

c. The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust.

d. A person, other than a beneficiary, who holds a power to direct is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from the holder's failure to act in good faith.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.