Title 3B, Title 3B: ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS

3B:16-8 Guardian to file inventory of estate of minor or person who is incapacitated. 3B:16-8. Every guardian of the estate of a minor or a person who is incapacitated may, and if required by the court shall, file with the surrogate of the proper county or the clerk of the Superi…

3B:17-1 Filing of release or discharge. 3B:17-1. A fiduciary need not render or settle an account if the fiduciary files with the court a release or discharge from the beneficiary, ward, or cestui que trust who has reached majority and is not incapacitated. The release or dischar…

3B:17-10. Settling accounts in the Superior Court A nontestamentary trustee shall have the right, in addition to and not in limitation of any other remedy now or hereafter provided, from time to time to settle his intermediate and final accounts in the Superior Court. L.1981, c. …

3B:17-11. Surrogate's fees The surrogate and the Clerk of the Superior Court shall receive for filing, auditing, and reporting to the court the accounts of nontestamentary trustees the same fees as are now or may hereafter be provided by law in the case of accountings by other fi…

3B:17-12. Fiduciary, receiver or assignee; rental of safe deposit box; expenses of safe-keeping of securities A fiduciary, receiver or assignee for the benefit of creditors may include as a part of the lawful expense of executing his trust a reasonable sum paid to a bank, trust c…

3B:17-13 Effect of nonjudicial settlement or waiver of account. 81. Unless the governing instrument expressly provides otherwise, an instrument settling or waiving an account, executed by all persons whom it would be necessary to join as parties in a proceeding for the judicial s…

3B:17-2. Accounts of personal representatives A personal representative may settle his account or be required to settle his account in the Superior Court. Unless for special cause shown, he shall not be required to account until after the expiration of 1 year after his appointmen…

3B:17-3. Accounts of guardians and trustees A guardian or trustee shall settle his account in the Superior Court at intervals as the court may require. A guardian or trustee may settle his first account within 1 year after his appointment or as soon thereafter as may be practicab…

3B:17-4. Account and bond required of cofiduciary Upon good cause shown, the Superior Court may order each cofiduciary to account for all assets which may have come into his hands. The Superior Court may also require a fiduciary to give bond, in a sum and with sureties to be appr…

3B:17-5. Account by representative of deceased fiduciary When a fiduciary dies without having filed an account or having fully settled and obtained an allowance of an account of the administration of the estate that has come into his hands, his legal representative may settle the…

3B:17-6. Examination of accountant on exceptions to account On exceptions to an account of a fiduciary, the court or any party interested therein may examine the accountant, on oath, concerning the truth and fairness of the account. L.1981, c. 405, s. 3B:17-6, eff. May 1, 1982.

3B:17-7. Statements or information regarding assets as part of account When, in an account, or in a complaint in an action for the settlement of an account, or in any writing annexed to the complaint or account, there appear lists of or statements or information as to the investm…

3B:17-8. Effect of judgment allowing account A judgment allowing an account, including a guardian's intermediate account, after due notice, shall be res adjudicata as to all exceptions which could or might have been taken to the account, and shall constitute an approval of the co…

3B:17-9. Nontestamentary trustee defined As used in this article, "nontestamentary trustee" means any owner of real or personal property who holds title thereto subject to equitable duties to deal with the property for the benefit of another or others arising from an express inte…

3B:18-10. Notice to recipient of property The court shall prescribe the notice to be given to the recipient of the property of the fiduciary's application for additional compensation. L.1981, c. 405, s. 3B:18-10, eff. May 1, 1982.

3B:18-11. Manner of payment of additional compensation The additional compensation of the fiduciary shall be payable by the recipient of the property if the recipient is within the jurisdiction of the court, or if the recipient is not within the jurisdiction of the court, shall b…

3B:18-12. Definition of fiduciary As used in this article "fiduciary" means personal representative and fiduciaries appointed under chapter 26 of this title for absentees. L.1981, c. 405, s. 3B:18-12, eff. May 1, 1982.

3B:18-13. Income commissions Commissions in the amount of 6% may be taken without court allowance on all income received by the fiduciary. For the purposes of this section, income which is withheld from payment to a fiduciary or fiduciaries pursuant to any law of this State, or o…

3B:18-14 Corpus commissions. 3B:18-14. Corpus commissions. Commissions on all corpus received by the fiduciary may be taken as follows: 5% on the first $200,000 of all corpus received by the fiduciary; 3.5% on the excess over $200,000 up to $1,000,000; 2% on the excess over $1,00…

3B:18-16. Corpus commissions; unusual or extraordinary services The court may, on an intermediate or the final settlement of the fiduciary's accounts, allow corpus commissions in addition to those hereinabove provided, on a showing that unusual or extraordinary services have been…

3B:18-17. Taking annual amounts on account of corpus commissions Fiduciaries may annually, without court allowance, take sums as follows on account of corpus commissions: if there is but one fiduciary, the amount so taken may equal one-fifth of 1% of the value of the corpus and, …

3B:18-18. Value of assets for computing commissions taken annually In computing the amount of commissions which may be taken annually pursuant to N.J.S. 3B:18-17, the value of any item of corpus at the time when the item is received by the fiduciary, referred to in this section a…

3B:18-19. Failure to take commissions annually shall not constitute a waiver thereof The failure of a fiduciary to take commissions in any year as provided in N.J.S. 3B:18-17 shall not constitute a waiver of the right of the fiduciary to take in a subsequent year the commissions …

3B:18-2. Commissions of nontestamentary trustee On the settlement of the account of a nontestamentary trustee, as defined in N.J.S. 3B:17-9, the court shall allow him the compensation as may have been agreed upon by the instrument creating the trust; and in the absence of any exp…

3B:18-20. Corpus commissions taken annually subject to review Commissions taken as provided in N.J.S. 3B:18-17 shall be subject to review on intermediate and final accountings, and to the extent that aggregate commissions so taken exceed the commissions allowable under N.J.S. 3B:…

3B:18-21. Burden of proving value In the event of a dispute as to the value of corpus on the settlement of the account of a fiduciary, the burden of proving that the value of any item of corpus differs from the presumptive value of the item shall be upon the fiduciary or other pa…

3B:18-22. When rates for corpus commissions taken annually effective With respect to a fiduciary's annual corpus commissions, the rates set forth in this article shall apply for all yearly periods ending after February 29, 1980. L.1981, c. 405, s. 3B:18-22, eff. May 1, 1982.

3B:18-23. "Fiduciary" defined As used in this article "fiduciary" means a trustee acting under a will, a nontestamentary trustee as defined in N.J.S. 3B:17-9 or a guardian. L. 1981, c. 405, s. 3B:18-23, eff. May 1, 1982. Amended by L. 1985, c. 434, s. 1, eff. Jan. 13, 1986.

3B:18-24. Income commissions Commissions in the amount of 6% may be taken without court allowance on all income received by the fiduciary. For the purposes of this section, income which is withheld from payment to the fiduciary pursuant to any law of this State, or of the United …

3B:18-25. Fiduciaries may take annual commissions on corpus 3B:18-25. a. Fiduciaries may annually, without court allowance, take commissions on corpus (including accumulated income which has been invested by the fiduciary) in the amount of $5.00 per thousand dollars of corpus val…

3B:18-25.1. Taking annual amount on accounts of corpus commissions: two or more fiduciaries Taking annual amount on accounts of corpus commissions: two or more fiduciaries. If there are two or more fiduciaries, the amount of the annual commissions taken pursuant to N.J.S. 3B:18-2…

3B:18-25.2. Powers of qualified bank; duties of agent 12. a. Notwithstanding any law to the contrary, a qualified bank acting in any capacity authorized pursuant to section 28 of P.L.1948, c.67 (C. 17:9A-28) on behalf of a trust or estate may employ and pay reasonable compensatio…

3B:18-26. Failure to take commissions annually shall not constitute a waiver thereof The failure of a fiduciary to take commissions in any year shall not constitute a waiver by the fiduciary to take in a subsequent year the commissions not taken for that year. L.1981, c. 405, s. …

3B:18-27. Commissions taken annually subject to review Commissions taken as provided in N.J.S. 3B:18-25 shall be subject to review on intermediate and final accountings, and to the extent that aggregate commissions so taken exceed the commissions allowable under this article, the…

3B:18-28. Corpus commissions on termination of trust, guardianship or upon distribution of assets In addition to the annual commissions on corpus, upon termination of the trust or guardianship, or upon distribution of assets from the trust or guardianship, the fiduciary may take …

3B:18-29. Corpus commissions; unusual or extraordinary services The court may, on an intermediate or the final settlement of fiduciaries' accounts, allow corpus commissions in addition to those provided in this article, on a showing that unusual or extraordinary services have bee…

3B:18-3. Provision in will for specific compensation Where provision is made in a will for specific compensation to a fiduciary, the compensation shall be deemed full payment for services in lieu of commissions provided by this chapter, unless the fiduciary shall in writing filed…

3B:18-30. Burden of proving value In the event of a dispute as to the value of corpus on the settlement of the account of a fiduciary, the burden of proving that the value of any item of corpus differs from the presumptive value of the item shall be upon the party claiming the di…

3B:18-31. Authorization in testator's will as to commissions exceeding legal rates No commissions in excess of those authorized in this article shall be paid to a fiduciary acting as a trustee under a will unless the testator, in his last will acknowledges that he is aware of the…

3B:18-32. When rates for corpus commissions taken annually effective With respect to fiduciaries' annual corpus commissions, the rates set forth in this article shall apply for all annual periods ending after February 29, 1980. L.1981, c. 405, s. 3B:18-32, eff. May 1, 1982.

3B:18-33. When rates of corpus commissions on termination of trusts or guardianship effective With respect to the computation of corpus commissions pursuant to N.J.S. 3B:18-28 as to all corpus held by a fiduciary on February 29, 1980, the commissions which may be taken shall be t…

3B:18-4. Disputes between fiduciaries as to apportionment When a difference arises between fiduciaries concerning the apportionment of commissions between them, the Superior Court shall determine the apportionment of commissions, having regard to their respective services. L.1981…

3B:18-5. Fiduciary removed from office; forfeiture of commissions Where a fiduciary is removed for any cause, the Superior Court may direct that his commissions be forfeited. L.1981, c. 405, s. 3B:18-5, eff. May 1, 1982.

3B:18-6. Legal fees for attorney also serving as fiduciary If the fiduciary is a duly licensed attorney of this State and shall have performed professional services in addition to his fiduciary duties, the court shall, in addition to the commissions provided by this chapter, allo…

3B:18-7. Annual statement relating to corpus commissions taken A trustee under a will or a guardian shall, within 60 days after the end of each tax year of the trust or guardianship furnish to each beneficiary currently receiving income, and to any other beneficiary interested in…

3B:18-8. Definitions As used in this article: a. "Fiduciary" means executor, administrator with the will annexed, substituted administrator with the will annexed, administrator, substituted administrator, or trustee or substituted trustee under a will of a decedent; b. "Property"…