New Jersey Statutes
§ 3B:31-57 — Duty of prudent administration.
New Jersey·Title 3B ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
3B:31-57. Duty of Prudent Administration. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. L.2015, c.276, s.1.
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Nearby Sections
15
§ 3B:31-11
Nonjudicial settlement agreements.§ 3B:31-12
Rules of construction.§ 3B:31-13
Representation: basic effect.§ 3B:31-17
Appointment of representative.§ 3B:31-18
Methods of creating trust.§ 3B:31-19
Requirements for creation.§ 3B:31-2
Scope.§ 3B:31-21
Trust purposes.§ 3B:31-22
Charitable purposes, enforcement.