Code · New Jersey · Title 3B — Administration of Estates--Decedents and Others · Chapter 31

3B:31-53 Reimbursement of expenses.

95 words·~1 min read·/nj/title-3b/chapter-31/3b-31-53

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Reimbursement of Expenses.

a. In addition to the compensation allowed by N.J.S.3B:18-2 et seq., a trustee is entitled to be reimbursed out of the trust property for:

(1)expenses that were properly incurred in the administration of the trust; and

(2)to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.

b. An advance by a trustee of money or other property for the protection of the trust gives rise to a lien against trust property to secure reimbursement.

L.2015, c.276, s.1.