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08.26.2016
The New Jersey Uniform Trust Code – Part 10C: Duties, Defenses and Liabilities of Trustees, Including Limitations of Actions for Trustee Liability
C. Remedies and Damages for Breach of Trust Remedies/Damages for Breach of Trust: Restatement and NJ Common Law Under the Second Restatement, “[t]he beneficiary of a trust can maintain a suit (a) to compel the trustee to perform his duties as trustee; (b) to enjoin the trustee from committing a breach of trust; (c) to […]
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08.23.2016
The New Jersey Uniform Trust Code – Part 10B: Duties, Defenses and Liabilities of Trustees, Including Limitations of Actions for Trustee Liability
B. Trustee Defenses to Claims of Breach of Trust Trustee Defenses: New Jersey UTC Limitation of actions Perhaps the most important change in the law regarding trustee liability and defenses is the adoption by the NJ UTC of a limitation of action provision. N.J.S.A. § 3B: 31-74. That statute adopts specific time limits under New Jersey […]
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08.17.2016
The New Jersey Uniform Trust Code – Part 10A: Duties, Defenses and Liabilities of Trustees, Including Limitations of Actions for Trustee Liability
This section addresses the standards under the NJ UTC, New Jersey common law, and the Restatement of Trusts. Given the breadth of this area, the assessment will fall into four areas: (A) the basic duties of the trustee for which claims may arise; (B) defenses to those claims, including limitations of actions; (C) damages and […]
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08.15.2016
The New Jersey Uniform Trust Code – Part Nine: The Office of The Trustee, and The Duties and Powers of the Trustee
Article 6 of the NJ UTC (N.J.S.A. § 3B:31-46 through § 3B:31-53) provides default rules concerning the office of the trustee, many of which were already established in the existing statutes, court rules, and case law. The process of qualifying as trustee, including procedures to accept or decline the office of trustee, are set forth […]
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