Kenneth Vercammen & Associates, P.C.
2053 Woodbridge Ave.
Edison, NJ 08817
(732) 572-0500

Monday, November 10, 2014

NJSA 3B:1-1 Definitions: a to H

As used in this title, unless otherwise defined:
"Administrator" includes general administrators of an intestate and unless restricted by the subject or context, administrators with the will annexed, substituted administrators, substituted administrators with the will annexed, temporary administrators and adminstrators pendente lite.
"Beneficiary," as it relates to trust beneficiaries includes a person who has any present or future interest, vested or contingent and also included the owner of an interest by assignment of other transfer and as it relates to a charitable trust, includes any person entitled to enforce the trust.
"Child" means any individual, including a natural or adopted child, entitled to take by intestate succession from the parent whose relationship is involved and excludes any person who is only a stepchild, a foster child, a grandchild or any more remote descendant.
"Claims" include liabilities whether arising in contract, or in tort or otherwise, and liabilities of the estate which arise at or after the death of the decedent, including funeral expenses and expenses of administration, but does not include estate of inheritance taxes, demands, or disputes regarding title to specific assets alleged to be included in the estate.
"Confiduciary" means each of two or more fiduciaries jointly serving in a fiduciary capacity.
"Devise," when used as a noun, means a testamentary disposition of real or personal property and when used as a verb, means to dispose of real or personal property by will.
"Devisee" means any person designated in a will to receive a devise. In the case of a devise to an existing trust or trustee is the devisee and the beneficiaries are not devisees.
"Distributee" means any person who has received property of a decedent from his personal representative other than as a creditor or purchaser. A trustee is a distributee only to the extent of a sitributed asset or increment thereto remaining in his hands. A beneficiary of a trust to whom the trustee has distributed property received from a personal representative is a distributee of the personal representative.
"Domiciliary foreign fiduciary" means any fiduciary who has received letters, or has been appointed, or is authorized to act as a fiduciary, in jurisdiction in which the decedent was domiciled at the time of his death, in which the ward is domiciled or in which is located the principal place of the administration of a trust.
"Estate" means all of the property of a decedent, minor or mental incompetent, 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 adminstration.
" Fiduciary" includes executors, general adminstrators of an intestate, adminstrators with the will annexed, substituted administrators with the will annexed, guardians, substituted guardians, trustees, substituted trustees and, unless restricted by the subject or context, temporary administrators, administrators pendente lite, administrators ad prosequedum, administrators ad litem and other limited fiduciaries.
"Guardian" means a person who has qualified as a guardian of a person or estate of a minor or mental incompetent persuant to testamentary or court appointment, but excludes on who is merely a gaurdian ad litem.
"Heirs" means those persons, including the surviving spouse, who are entitlesd under statutes of intestate succession to property of a decedent.
L. 1981, c 3b:1-1, eff. May 1, 1982.
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