New Jersey Statutes 3B:1-7. Exclusion of property passing to a testamentary trustee other than by devise from rights of personal representative or creditors of decedent
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Terms Used In New Jersey Statutes 3B:1-7
- Inter vivos: Transfer of property from one living person to another living person.
- Trustee: A person or institution holding and administering property in trust.
Property passing to a testamentary trustee other than by devise shall not be subject to rights of, powers of or to administration by a personal representative or to rights of creditors to any extent beyond that to which it would otherwise be if the testamentary trust was an inter vivos trust.
L.1981, c. 405, s. 3B:1-7, eff. May 1, 1982.