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34 chapters · 843 sections in this title.
N.J.S.A. 3B:31-55 Duty of loyalty.
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3B:31-55 Duty of loyalty. 3B:31-55. Duty of Loyalty. a. A trustee shall administer the trust with undivided loyalty to and solely in the best interests of the beneficiaries. b. Subject to the rights of persons dealing with or assisting the trustee as provided in N.J.S.3B:14-37, a…
N.J.S.A. 3B:31-56 Duty of impartiality.
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3B:31-56 Duty of impartiality. 3B:31-56. Duty of Impartiality. If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests. L.2015, c.276, s.1…
N.J.S.A. 3B:31-57 Duty of prudent administration.
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3B:31-57 Duty of prudent administration. 3B:31-57. Duty of Prudent Administration. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, t…
N.J.S.A. 3B:31-58 Costs of administration.
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3B:31-58 Costs of administration. 3B:31-58. Costs of Administration. In administering a trust, the trustee may incur only costs that are appropriate and reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee. L.2015, c.276, s.1.
