New Jersey § 3B:11-4 Effect to be given consent by holders of general powers of appointment upon beneficiaries

New Jersey Statutes

§ 3B:11-4 — Effect to be given consent by holders of general powers of appointment upon beneficiaries

New Jersey § 3B:11-4

Title 3BADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS

This text of New Jersey § 3B:11-4 (Effect to be given consent by holders of general powers of appointment upon beneficiaries) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 3B:11-4 (2026).

Text

For the purpose of granting consent or approval with regard to the acts or accounts of a fiduciary or trustee, including relief from liability or penalty for failure to post bond, or to perform other duties, and for purposes of consenting to modification or termination of a trust or to deviation from its terms, the sole holder or all coholders of a presently exercisable general power of appointment, including one in the form of a power of amendment or revocation, are deemed to act for beneficiaries to the extent that the interests of the beneficiaries as objects, takers in default, or otherwise are subject to the power. As used in this section, a presently exercisable general power of appointment is one which enables the power holder to presently draw absolute ownership to himself. L.1981,

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For the purpose of granting consent or approval with regard to the acts or accounts of a fiduciary or trustee, including relief from liability or penalty for failure to post bond, or to perform other duties, and for purposes of consenting to modification or termination of a trust or to deviation from its terms, the sole holder or all coholders of a presently exercisable general power of appointment, including one in the form of a power of amendment or revocation, are deemed to act for beneficiaries to the extent that the interests of the beneficiaries as objects, takers in default, or otherwise are subject to the power. As used in this section, a presently exercisable general power of appointment is one which enables the power holder to presently draw absolute ownership to himself. L.1981, c. 405, s. 3B:11-4, eff. May 1, 1982.