New Jersey Statutes 46:38A-12. Other transfers by personal representative or trustee
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Terms Used In New Jersey Statutes 46:38A-12
- Adult: means an individual who has attained the age of 21 years. See New Jersey Statutes 46:38A-2
- Custodian: means a person so designated under R. See New Jersey Statutes 46:38A-2
- Minor: means an individual who has not attained the age of 21 years. See New Jersey Statutes 46:38A-2
- Personal representative: means an executor, administrator, successor personal representative of a decedent's estate or a person legally authorized to perform substantially the same functions but excludes a special administrator. See New Jersey Statutes 46:38A-2
- Transfer: means a transaction that creates custodial property under R. See New Jersey Statutes 46:38A-2
- Trust company: means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See New Jersey Statutes 46:38A-2
- Trustee: A person or institution holding and administering property in trust.
Subject to R.S. 46:38A-14, a personal representative or a trustee may, pursuant to R.S. 46:38A-19, make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor, in the absence of a will or under a will or a trust that does not contain an authorization to do so.
L. 1987, c. 18, s. 1.