3B:20-1 Definitions
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/nj/title-3b/chapter-20/3b-20-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Definitions. As used in this chapter:
a. "Trust instrument" means and includes a will, deed, agreement, court order or other instrument pursuant to which money or other property is entrusted to a fiduciary;
b. "Fiduciary" means an individual or corporation that is authorized to act as or acts as a trustee, personal representative, conservator, guardian, and every other individual or corporation charged with the duty of administering a trust estate;
c. "Trust estate" or "trust assets" means money or other property entrusted to a fiduciary;
d. (Deleted by amendment, P.L.1997, c.26.)
e. "Beneficiary" means an individual or corporation for whose benefit a fiduciary acts or is authorized to act.
Amended 1983, c.192, s.2; 1995, c.48, s.1; 1997, c.26, s.13.