Recordkeeping and identification of trust property.
3B:31-64 Recordkeeping and identification of trust property.
3B:31-64. Recordkeeping and Identification of Trust Property.
a. A trustee shall keep adequate records of the administration of the trust.
b. A trustee shall keep trust property separate from the trustee's own property.
c. Except as otherwise provided in subsection d. of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.
d. If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of the trust with other fiduciary accounts maintained by the trustee.
L.2015, c.276, s.1.
This is the verbatim text of N.J.S.A. 3B:31-64, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.