N.J. Stat. § 3B:31-52

Current through L. 2023, c. 256.
Section 3B:31-52 - Delivery of property by former trustee
a. Unless a co-trustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.
b. A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the co-trustee, successor trustee, or other person entitled to it, but a resigning trustee may retain a reasonable reserve for the costs of finalizing that trustee's administration of the trust.

N.J.S. § 3B:31-52

Added by L. 2015, c. 276,s. 1, eff. 7/17/2016.