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New Jersey Statutes, Title: 3B, ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
Chapter 31: Uniform Trust Code
Section: 3B:31-61: Powers to direct.
3B:31-61. Powers to Direct.
a. While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust.
b. If the terms of a trust confer upon a person other than the settlor of a revocable trust the power to direct certain actions of the trustee, the trustee shall act in accordance with a written exercise of the power unless the attempted exercise is contrary to the terms of the trust or the trustee knows the attempted exercise would constitute a breach of a fiduciary duty that the person holding the power owes to the beneficiaries of the trust.
c. The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust.
d. A person, other than a beneficiary, who holds a power to direct is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from the holder's failure to act in good faith.
L.2015, c.276, s.1.
This section added to the Rutgers Database: 2016-02-15 11:38:57.
Older versions of 3b:31-61 (if available):
Court decisions that cite this statute: