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New Jersey Statutes Title 3B. Administration of Estates Decedents and Others 3B § 31-53

Current as of January 01, 2024 | Updated by FindLaw Staff

Reimbursement of Expenses.

a. In addition to the compensation allowed by N.J.S.3B:18-2 et seq., a trustee is entitled to be reimbursed out of the trust property for:

(1) expenses that were properly incurred in the administration of the trust; and

(2) to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.

b. An advance by a trustee of money or other property for the protection of the trust gives rise to a lien against trust property to secure reimbursement.

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Cite this article: FindLaw.com - New Jersey Statutes Title 3B. Administration of Estates Decedents and Others 3B § 31-53 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-3b-administration-of-estates-decedents-and-others/nj-st-sect-3b-31-53/

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