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07.26.2016
The New Jersey Uniform Trust Code – Part Four: Creation of Trusts, Including Whether a Valid Trust Exists
CREATION OF TRUSTS, INCLUDING WHETHER A VALID TRUST EXISTS This section will address the requirements to create a valid trust. Given the fundamental nature of this topic, the survey will include at times national standards and New Jersey common law, along with the NJ UTC. Basic Requirements to Create a Trust Basic Requirements to Create […]
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07.21.2016
The New Jersey Uniform Trust Code – Part Three: General Provisions and Definitions of the NJ UTC (Article 1), Including Nonjudicial Agreements (Article 1), Representation (Article 2) and Miscellaneous Provisions (Article 9)
General Provisions and Definitions: Who is a Beneficiary Article 1 of the NJ UTC includes general provisions and definitions. The definitions for the UTC are in N.J.S.A. § 3B:31-3. Of particular significance are the following definitions: Beneficiary vs. Qualified Beneficiary. A trust “beneficiary” includes a person: “(1) who has any present or future interest, vested […]
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07.15.2016
The New Jersey Uniform Trust Code – Part Two: General Effect – And What is Not Changed by the NJUTC
Although the NJ UTC takes effect on July 17, 2016, it applies to trusts created before, on, or after its effective date. N.J.S.A. § 3B:31-84(a)(1). The NJ UTC applies to express trusts, charitable or noncharitable trusts, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the […]
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07.12.2016
The New Jersey Uniform Trust Code – Part One: Introduction
On January 19, 2016, New Jersey enacted the Uniform Trust Code (“UTC”), to take effect on July 17, 2016. The new statute is in Chapter 31 of Title 3B of the New Jersey statutes. This article delineates New Jersey law generally, and the UTC as enacted in New Jersey (at times referred to as “NJ […]
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