{"id":5632,"date":"2024-10-15T16:59:14","date_gmt":"2024-10-15T20:59:14","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=5632"},"modified":"2024-10-15T16:59:14","modified_gmt":"2024-10-15T20:59:14","slug":"trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html","title":{"rendered":"Trusts in New Jersey &#8211; Understanding the Duties and Responsibilities of New Jersey Trustees"},"content":{"rendered":"<p>As a general rule, trusts are created in one of two ways.\u00a0 <em>Inter vivos<\/em> trusts are established by an agreement or declaration during the life of the creator (called the \u201cgrantor\u201d or \u201csettlor\u201d of the trust).\u00a0 Testamentary trusts are created in the will of a testator and do not exist until the testator dies, the will is probated, and the executor of the will transfers assets to fund the trust.\u00a0 Testamentary trusts are irrevocable and cannot be changed except in limited circumstances, whereas <em>inter vivos<\/em> trusts may be revocable (<em>i.e.<\/em>, \u00a0may be amended or terminated) or irrevocable.<\/p>\n<p>In New Jersey, a trustee is entrusted with significant responsibilities that require not only the proper management and distribution of assets but also the fulfillment of strict fiduciary obligations.\u00a0 Whether the trustee is an individual or a corporate entity, the role demands a high level of diligence, integrity, and accountability.\u00a0 For beneficiaries, understanding a trustee\u2019s duties is essential to ensure that their rights are protected, while for trustees, knowing the full extent of their responsibilities is crucial for effective administration.<\/p>\n<p>The trustee\u2019s role lasts the length of the trust\u2019s duration, or until the trustee sooner resigns, dies, or is removed.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html\"  title=\"Continue Reading Trusts in New Jersey &#8211; Understanding the Duties and Responsibilities of New Jersey Trustees\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>As a general rule, trusts are created in one of two ways.\u00a0 Inter vivos trusts are established by an agreement or declaration during the life of the creator (called the \u201cgrantor\u201d or \u201csettlor\u201d of the trust).\u00a0 Testamentary trusts are created in the will of a testator and do not exist until the testator dies, the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[293,65,343],"tags":[],"coauthors":[295],"class_list":["post-5632","post","type-post","status-publish","format-standard","hentry","category-robbins","category-insights","category-wills-trusts-estates-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trusts in New Jersey - Understanding the Duties and Responsibilities of New Jersey Trustees &#8212; October 15, 2024 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"As a general rule, trusts are created in one of two ways.\u00a0 Inter vivos trusts are established by an agreement or declaration during the life of the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trusts in New Jersey - Understanding the Duties and Responsibilities of New Jersey Trustees &#8212; October 15, 2024 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"og:description\" content=\"As a general rule, trusts are created in one of two ways.\u00a0 Inter vivos trusts are established by an agreement or declaration during the life of the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html\" \/>\n<meta property=\"og:site_name\" content=\"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-15T20:59:14+00:00\" \/>\n<meta name=\"author\" content=\"Anne Marie Robbins\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Marie Robbins\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Trusts in New Jersey - Understanding the Duties and Responsibilities of New Jersey Trustees &#8212; October 15, 2024 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","description":"As a general rule, trusts are created in one of two ways.\u00a0 Inter vivos trusts are established by an agreement or declaration during the life of the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html","og_locale":"en_US","og_type":"article","og_title":"Trusts in New Jersey - Understanding the Duties and Responsibilities of New Jersey Trustees &#8212; October 15, 2024 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","og_description":"As a general rule, trusts are created in one of two ways.\u00a0 Inter vivos trusts are established by an agreement or declaration during the life of the","og_url":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html","og_site_name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","article_published_time":"2024-10-15T20:59:14+00:00","author":"Anne Marie Robbins","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anne Marie Robbins","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html#article","isPartOf":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html"},"author":{"name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C.","@id":"https:\/\/www.lindabury.com\/firm\/#\/schema\/person\/429b3bd6b52a7aa6eb9a0709bbb4d06f"},"headline":"Trusts in New Jersey &#8211; Understanding the Duties and Responsibilities of New Jersey Trustees","datePublished":"2024-10-15T20:59:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html"},"wordCount":1217,"articleSection":["Anne Marie Robbins","Insights","Wills, Trusts &amp; Estates"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html","url":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html","name":"Trusts in New Jersey - Understanding the Duties and Responsibilities of New Jersey Trustees &#8212; October 15, 2024 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","isPartOf":{"@id":"https:\/\/www.lindabury.com\/firm\/#website"},"datePublished":"2024-10-15T20:59:14+00:00","author":{"@id":"https:\/\/www.lindabury.com\/firm\/#\/schema\/person\/429b3bd6b52a7aa6eb9a0709bbb4d06f"},"description":"As a general rule, trusts are created in one of two ways.\u00a0 Inter vivos trusts are established by an agreement or declaration during the life of the","breadcrumb":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.lindabury.com\/firm\/insights\/trusts-in-new-jersey-understanding-the-duties-and-responsibilities-of-new-jersey-trustees.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"\/"},{"@type":"ListItem","position":2,"name":"Insights","item":"https:\/\/www.lindabury.com\/firm\/insights"},{"@type":"ListItem","position":3,"name":"Wills, Trusts &amp; Estates","item":"https:\/\/www.lindabury.com\/firm\/insights\/wills-trusts-estates-insights"},{"@type":"ListItem","position":4,"name":"Trusts in New Jersey &#8211; Understanding the Duties and Responsibilities of New Jersey Trustees"}]},{"@type":"WebSite","@id":"https:\/\/www.lindabury.com\/firm\/#website","url":"https:\/\/www.lindabury.com\/firm\/","name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","description":"Published by Lindabury, McCormick, Estabrook &amp; Cooper","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.lindabury.com\/firm\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.lindabury.com\/firm\/#\/schema\/person\/429b3bd6b52a7aa6eb9a0709bbb4d06f","name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C.","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a19d0fac94b8d3d657028926f65c841917c5f8f0dd3f23ad394e83f16c690e09?s=96&d=mm&r=g3f2ca7450f0195db092bccff4fb8982e","url":"https:\/\/secure.gravatar.com\/avatar\/a19d0fac94b8d3d657028926f65c841917c5f8f0dd3f23ad394e83f16c690e09?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a19d0fac94b8d3d657028926f65c841917c5f8f0dd3f23ad394e83f16c690e09?s=96&d=mm&r=g","caption":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C."},"sameAs":["https:\/\/www.lindabury.com"]}]}},"yoast":{"focuskw":"","title":"","metadesc":"","linkdex":"","metakeywords":"","meta-robots-noindex":"","meta-robots-nofollow":"","meta-robots-adv":"","canonical":"","redirect":"","opengraph-title":"","opengraph-description":"","opengraph-image":"","twitter-title":"","twitter-description":"","twitter-image":""},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts\/5632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/comments?post=5632"}],"version-history":[{"count":1,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts\/5632\/revisions"}],"predecessor-version":[{"id":5633,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts\/5632\/revisions\/5633"}],"wp:attachment":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/media?parent=5632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/categories?post=5632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/tags?post=5632"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/coauthors?post=5632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}