Uniform Trust Code
New Jersey · Administration of Estates--Decedents and Others · §§ 3B:31-1 to 3B:31-9 · 84 sections
Overview
This act provides a general statutory framework for the creation, administration, and enforcement of trusts, setting out default rules that yield to the terms of the trust alongside a narrower set of mandatory rules that cannot be overridden, with the common law of trusts and principles of equity continuing to supplement it. It covers such matters as governing law and the principal place of administration, notice to beneficiaries and who is entitled to receive it, rules of construction, and the recognition of resulting and constructive trusts. It also governs the consequences of a trustee's conduct — remedies and damages for breach of trust, attorney fees, time limits on actions against a trustee, exculpation clauses and beneficiary consent or release, limits on a trustee's personal liability to third parties, and protection for those who deal with a trustee in reliance on a certification of trust — while allowing interested parties to resolve certain questions among themselves through nonjudicial settlement agreements rather than in court.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
In the courts
Sections of this act have been cited in 1 court decision.
Most-cited authority: 532 SW3D 243 - Wade Harvey, Ex Rel. Alexis Breanna Gladden v. Cumberland Trust And Investment Company
Sections covered
- N.J. Stat. Ann. § 3B:31-1Short Title1 cite
- N.J. Stat. Ann. § 3B:31-10Others treated as qualified beneficiaries
- N.J. Stat. Ann. § 3B:31-11Nonjudicial settlement agreements
- N.J. Stat. Ann. § 3B:31-12Rules of construction
- N.J. Stat. Ann. § 3B:31-13Representation: basic effect
- N.J. Stat. Ann. § 3B:31-14Representation by holder of general testamentary power of appointment
- N.J. Stat. Ann. § 3B:31-15Representation by fiduciaries and parents
- N.J. Stat. Ann. § 3B:31-16Representation by person having substantially identical interest
- N.J. Stat. Ann. § 3B:31-17Appointment of representative
- N.J. Stat. Ann. § 3B:31-18Methods of creating trust
- N.J. Stat. Ann. § 3B:31-19Requirements for creation
- N.J. Stat. Ann. § 3B:31-2Scope
- N.J. Stat. Ann. § 3B:31-20Written trusts created in other jurisdictions
- N.J. Stat. Ann. § 3B:31-21Trust purposes
- N.J. Stat. Ann. § 3B:31-22Charitable purposes, enforcement
- N.J. Stat. Ann. § 3B:31-23Creation of trust induced by fraud, duress, or undue influence
- N.J. Stat. Ann. § 3B:31-24Trust for care of animal
- N.J. Stat. Ann. § 3B:31-25Noncharitable trust without ascertainable beneficiary
- N.J. Stat. Ann. § 3B:31-26Modification or termination of trust; proceedings for approval or disapproval
- N.J. Stat. Ann. § 3B:31-27Modification or termination of noncharitable irrevocable trust by consent
- N.J. Stat. Ann. § 3B:31-28Modification or termination because of unanticipated circumstances or inability to administer trust effectively
- N.J. Stat. Ann. § 3B:31-29Modification or termination of charitable trust (Cy Pres)
- N.J. Stat. Ann. § 3B:31-3Definitions
- N.J. Stat. Ann. § 3B:31-30Modification or termination of uneconomic trust
- N.J. Stat. Ann. § 3B:31-31Reformation to correct mistakes
- N.J. Stat. Ann. § 3B:31-32Construction to conform trust terms to probably intent of settlor
- N.J. Stat. Ann. § 3B:31-33Modification to achieve settlor's tax objectives
- N.J. Stat. Ann. § 3B:31-34Combination and division of trusts
- N.J. Stat. Ann. § 3B:31-35Rights of beneficiary's creditor or assignee
- N.J. Stat. Ann. § 3B:31-36Spendthrift provision
- N.J. Stat. Ann. § 3B:31-37Special needs trusts
- N.J. Stat. Ann. § 3B:31-38Discretionary trusts; effect of standard
- N.J. Stat. Ann. § 3B:31-39Creditor's claim against settlor
- N.J. Stat. Ann. § 3B:31-4Knowledge
- N.J. Stat. Ann. § 3B:31-40Overdue distribution
- N.J. Stat. Ann. § 3B:31-41Personal obligations of trustee
- N.J. Stat. Ann. § 3B:31-42Capacity of settlor of revocable trust
- N.J. Stat. Ann. § 3B:31-43Revocation or amendment of revocable trust
- N.J. Stat. Ann. § 3B:31-44Settlor's powers
- N.J. Stat. Ann. § 3B:31-45Limitation on action contesting validity of revocable trust; distribution of trust property
- N.J. Stat. Ann. § 3B:31-46Accepting or declining trusteeship
- N.J. Stat. Ann. § 3B:31-47Trustee's bond
- N.J. Stat. Ann. § 3B:31-48Co-trustees
- N.J. Stat. Ann. § 3B:31-49Vacancy in trusteeship; appointment of successor
- N.J. Stat. Ann. § 3B:31-5Default and mandatory rules
- N.J. Stat. Ann. § 3B:31-50Resignation of trustee
- N.J. Stat. Ann. § 3B:31-51Removal of trustee
- N.J. Stat. Ann. § 3B:31-52Delivery of property by former trustee
- N.J. Stat. Ann. § 3B:31-53Reimbursement of expenses
- N.J. Stat. Ann. § 3B:31-54Duty to administer trust
- N.J. Stat. Ann. § 3B:31-55Duty of loyalty
- N.J. Stat. Ann. § 3B:31-56Duty of impartiality
- N.J. Stat. Ann. § 3B:31-57Duty of prudent administration
- N.J. Stat. Ann. § 3B:31-58Costs of administration
- N.J. Stat. Ann. § 3B:31-59Duty to use special skills
- N.J. Stat. Ann. § 3B:31-6Common Law of Trusts; Principles of Equity
- N.J. Stat. Ann. § 3B:31-60Delegation by trustee
- N.J. Stat. Ann. § 3B:31-61Powers to direct
- N.J. Stat. Ann. § 3B:31-62Powers to direct investment functions
- N.J. Stat. Ann. § 3B:31-63Control and protection of trust property
- N.J. Stat. Ann. § 3B:31-64Recordkeeping and identification of trust property
- N.J. Stat. Ann. § 3B:31-65Duty to enforce and defend claims
- N.J. Stat. Ann. § 3B:31-66Duty to collect trust property and redress breaches of trust
- N.J. Stat. Ann. § 3B:31-67Duty to disclose and discretion to periodically report
- N.J. Stat. Ann. § 3B:31-68Discretionary powers
- N.J. Stat. Ann. § 3B:31-69General powers of trustee
- N.J. Stat. Ann. § 3B:31-7Governing law
- N.J. Stat. Ann. § 3B:31-70Distribution upon termination
- N.J. Stat. Ann. § 3B:31-71Remedies for breach of trust
- N.J. Stat. Ann. § 3B:31-72Damages for breach of trust
- N.J. Stat. Ann. § 3B:31-73Damages in absence of breach
- N.J. Stat. Ann. § 3B:31-74Limitation of action against trustee
- N.J. Stat. Ann. § 3B:31-75Reliance on trust instrument
- N.J. Stat. Ann. § 3B:31-76Event affecting administration or distribution
- N.J. Stat. Ann. § 3B:31-77Exculpation of trustee
- N.J. Stat. Ann. § 3B:31-78Beneficiary's consent, release, or ratification
- N.J. Stat. Ann. § 3B:31-79Limitation on personal liability of trustee
- N.J. Stat. Ann. § 3B:31-8Principal place of administration
- N.J. Stat. Ann. § 3B:31-80Interest as general partner
- N.J. Stat. Ann. § 3B:31-81Certification of trust
- N.J. Stat. Ann. § 3B:31-82Electronic records and signatures
- N.J. Stat. Ann. § 3B:31-83Severability clause
- N.J. Stat. Ann. § 3B:31-84Application to existing relationships
- N.J. Stat. Ann. § 3B:31-9Methods and waiver of notice
Enacted in other states
Alabama, Colorado, Connecticut, District of Columbia, Hawaii, Kentucky, Massachusetts, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Mexico, Oklahoma, Oregon, Tennessee, West Virginia, Wyoming
All New Jersey named statutes →
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