New Jersey Statutes 3B:20-10. Investments by court order upon change in conditions
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Terms Used In New Jersey Statutes 3B:20-10
- Estate: means all of the property of a decedent, minor or incapacitated individual, trust or other person whose affairs are subject to this title as the property is originally constituted and as it exists from time to time during administration. See New Jersey Statutes 3B:1-1
- Fiduciary: means an individual or corporation that is authorized to act as or acts as a trustee, personal representative, conservator, guardian, and every other individual or corporation charged with the duty of administering a trust estate. See New Jersey Statutes 3B:20-1
- Fiduciary: A trustee, executor, or administrator.
- Trust instrument: means and includes a will, deed, agreement, court order or other instrument pursuant to which money or other property is entrusted to a fiduciary. See New Jersey Statutes 3B:20-1
3B:20-10. Investments by court order upon change in conditions. If the court finds that by reason of a change in conditions which has occurred since the creation of the trust or which may be reasonably foreseen, the objects of the trust estate may be defeated in whole or in part by the investment or retention of the trust estate in property to which the fiduciary is limited by the trust instrument and that the objects of the trust estate and those interested in it would be promoted by the investment of all or part of the trust estate otherwise, the court shall authorize or direct the fiduciary to invest the whole of the trust estate or that part of it as shall be designated, in accordance with the provisions of N.J.S. 3B:20-1 et seq.
Amended 1997, c.26, s.17.