reglab/housing_qa huggingface dataset:
NJ Rev Stat § 3B:31-18 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-18 - Methods of creating trust.

3B:31-18 Methods of creating trust.  3B:31-18. Methods of Creating Trust. A trust may be created by: a. transfer of property under a written instrument to another person as trustee during the settlor's lifetime or by will or other written disposition taking effect upon the settlor's death; b. written declaration by the owner of property that the owner holds identifiable property as trustee; or c. written exercise of a power of appointment in favor of a trustee. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-19 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-19 - Requirements for creation.

3B:31-19. Requirements for creation.  3B:31-19. Requirements for Creation. a. A trust is created only if: (1) the settlor has capacity to create a trust; (2) the settlor indicates an intention to create the trust; (3) the trust has a definite beneficiary or is: (a) a charitable trust; (b) a trust for the care of an animal, as provided in N.J.S.3B:31-24; or (c) a trust for a noncharitable purpose, as provided in N.J.S.3B:31-25; (4) the trustee has duties to perform; and (5) the same person is not the sole trustee and sole beneficiary of all beneficial interests. b. A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to the provisions of section 14 of P.L.1999, c.159 (C.46:2F-10) or any other applicable rule against perpetuities. c. A power in a trustee to select a beneficiary from an indefinite class is valid if exercised within a reasonable time and is not void as provided in section 14 of P.L.1999, c.159 (C.46:2F-10) or any other applicable rule against perpetuities or restraint on alienation. If invalid, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred. d. A written instrument which creates a trust or transfers property to a trust shall not be invalid or ineffective because the transferee is identified as the trust rather than the trustee thereof. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-20 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-20 - Written trusts created in other jurisdictions.

3B:31-20 Written trusts created in other jurisdictions.  3B:31-20. Written Trusts Created in Other Jurisdictions.  A written trust not created by will is validly created if its creation complies with the law of the jurisdiction in which: a. the trust instrument was executed;  b. at the time the trust was created, the settlor was domiciled, had a place of abode, or was a national; c. at the time the trust was created, a trustee was domiciled or had a place of business; or d. at the time the trust was created, any trust property was located. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-21 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-21 - Trust purposes.

3B:31-21 Trust purposes.  3B:31-21. Trust Purposes. A trust may be enforced only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms shall be for the benefit of its beneficiaries. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-22 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-22 - Charitable purposes, enforcement.

3B:31-22 Charitable purposes, enforcement.  3B:31-22. Charitable Purposes; Enforcement. a. A charitable trust is one that is created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purpose the achievement of which is beneficial to the community. b. If the terms of a charitable trust do not state a particular charitable purpose or beneficiary, and the trustee or other person authorized to state a particular charitable purpose or name a particular charitable beneficiary fails to make a selection, the court may select one or more charitable purposes or beneficiaries. The selection shall be consistent with the settlor's intention to the extent it can be ascertained. c. A proceeding to enforce a charitable trust may be brought by the settlor, by the Attorney General, by the trust's beneficiaries or by other persons who have standing. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-23 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-23 - Creation of trust induced by fraud, duress, or undue influence.

3B:31-23 Creation of trust induced by fraud, duress, or undue influence.  3B:31-23. Creation of Trust Induced by Fraud, Duress, or Undue Influence. A trust is void to the extent its creation was induced by fraud, duress, or undue influence. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-24 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-24 - Trust for care of animal.

3B:31-24 Trust for care of animal.  3B:31-24. Trust for Care of Animal.  a. A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal. b. A trust authorized by this section may be enforced by the settlor or by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed. c. Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use shall be distributed to the settlor, if then living, otherwise to the settlor's estate. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-25 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-25 - Noncharitable trust without ascertainable beneficiary.

3B:31-25 Noncharitable trust without ascertainable beneficiary.  3B:31-25. Noncharitable Trust Without Ascertainable Beneficiary.  Except as otherwise provided in N.J.S.3B:31-24 or by another statute, the following rules apply: a. A trust may be created for a noncharitable but otherwise valid purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee.  b. A trust authorized by this section may be enforced by the settlor or by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the court. c. Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use shall be distributed to the settlor, if then living, otherwise to the settlor's estate. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-26 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-26 - Modification or termination of trust; proceedings for approval or disapproval.

3B:31-26 Modification or termination of trust; proceedings for approval or disapproval.  3B:31-26. Modification or Termination of Trust; Proceedings for Approval or Disapproval. a. In addition to the methods of termination prescribed by N.J.S.3B:31-27 through N.J.S.3B:31-33, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy of this State, or impossible to achieve. b. A proceeding to approve or disapprove a proposed modification or termination under N.J.S.3B:31-27 through N.J.S.3B:31-33, or trust combination or division under N.J.S.3B:31-34, may be commenced by a trustee or beneficiary. The settlor of a charitable trust may maintain a proceeding to modify the trust under N.J.S.3B:31-29. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-27 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-27 - Modification or termination of noncharitable irrevocable trust by consent.

3B:31-27 Modification or termination of noncharitable irrevocable trust by consent.  3B:31-27. Modification or Termination of Noncharitable Irrevocable Trust by Consent. a. A noncharitable irrevocable trust may be modified or terminated upon consent of the trustee and all beneficiaries, if the modification or termination is not inconsistent with a material purpose of the trust.  b. A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if the court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust. A noncharitable irrevocable trust may be modified upon consent of all of the beneficiaries if the court concludes that modification is not inconsistent with a material purpose of the trust. c. A spendthrift provision in the terms of the trust is not presumed to constitute a material purpose of the trust. d. Upon termination of a trust under subsection a. or b. of this section, the trustee shall distribute the trust property as agreed by the beneficiaries. e. If not all of the beneficiaries consent to a proposed modification or termination of the trust under subsection a. or b. of this section, the modification or termination may be approved by the court if the court is satisfied that: (1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and (2) the interests of a beneficiary who does not consent will be adequately protected. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-28 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-28 - Modification or termination because of unanticipated circumstances or inability to administer trust effectively.

3B:31-28 Modification or termination because of unanticipated circumstances or inability to administer trust effectively.  3B:31-28. Modification or Termination Because of Unanticipated Circumstances or Inability to Administer Trust Effectively. a. The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification shall be made in accordance with the settlor's probable intent. b. The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration. c. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-29 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-29 - Modification or termination of charitable trust (Cy Pres).

3B:31-29 Modification or termination of charitable trust (Cy Pres).  3B:31-29. Modification or Termination of Charitable Trust (Cy Pres). a. Except as otherwise provided in subsection b. of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful: (1) the trust does not fail, in whole or in part; (2) the trust property does not revert to the settlor or the settlor's estate; and (3) the court may modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes. b. A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the court under subsection a. of this section. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-30 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-30 - Modification or termination of uneconomic trust.

3B:31-30 Modification or termination of uneconomic trust.  3B:31-30. Modification or Termination of Uneconomic Trust. a. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. b. The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration. c. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. d. This section does not apply to an easement for conservation or preservation. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-31 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-31 - Reformation to correct mistakes.

3B:31-31 Reformation to correct mistakes.  3B:31-31. Reformation to Correct Mistakes. The court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's probable intent if it is proved by clear and convincing evidence that there was a mistake of fact or law, whether in expression or inducement. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-32 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-32 - Construction to conform trust terms to probably intent of settlor.

3B:31-32 Construction to conform trust terms to probably intent of settlor.   3B:31-32. Construction to Conform Trust Terms to Probable Intent of Settlor.  Nothing in this act shall prevent the court from construing the terms of a trust, even if unambiguous, to conform to the settlor's probable intent.  L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-33 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-33 - Modification to achieve settlor's tax objectives.

3B:31-33 Modification to achieve settlor's tax objectives.  3B:31-33. Modification to Achieve Settlor's Tax Objectives.  To achieve the settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intent. The court may provide that the modification has retroactive effect. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-34 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-34 - Combination and division of trusts.

3B:31-34 Combination and division of trusts.  3B:31-34. Combination and Division of Trusts. a. Subject to subsection b. of this section,  (1) the trustees of two or more trusts or parts of trusts may combine the trusts or parts thereof into a single trust, even if such trusts or parts thereof are created by different settlors or under different instruments, and even if the trusts have different trustees; and  (2) the trustees of a single trust may divide the trust into two or more separate trusts, in which case distributions provided by the governing instrument may be made from one or more of the separate trusts.  b. A combination or division under this section may be effected only if the result does not impair rights of any beneficiary or adversely affect the achievement of the purposes of the trust.  L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-35 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-35 - Rights of beneficiary's creditor or assignee.

3B:31-35 Rights of beneficiary's creditor or assignee.  3B:31-35. Rights of Beneficiary's Creditor or Assignee.  Except as otherwise provided by law, to the extent a beneficiary's interest is not protected by a spendthrift provision, a creditor or assignee of the beneficiary may reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary, subject to N.J.S.2A:17-50 through N.J.S.2A:17-56 and sections 3 and 4 of P.L.1981, c.203 (C.2A:17-56.1a and C.2A:17-56.6) or other applicable law. The court may limit the award to such relief as is appropriate under the circumstances. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-36 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-36 - Spendthrift provision.

3B:31-36 Spendthrift provision.  3B:31-36. Spendthrift Provision. a. A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest. b. A term of the trust providing that the interest of a beneficiary is held subject to a "spendthrift trust," or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest. c. A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this article, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary. d. A spendthrift provision is valid even though a beneficiary is named as the sole trustee or as a co-trustee of the trust. e. A valid spendthrift provision does not prevent the appointment of interests through the exercise of a power of appointment.  L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-37 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-37 - Special needs trusts.

3B:31-37 Special needs trusts.  3B:31-37. Special Needs Trusts. Even if a trust contains a spendthrift provision, the following shall apply: a. Special Needs (1) "Protected person" means a person who is: (a) an aged, blind, or disabled individual as defined at 42 U.S.C. s.1382c; (b) developmentally disabled as defined in section 2 of P.L.1979, c.105 (C.30:1AA-2); or (c) under age 18, or over age 18 and a full-time student, with serious disabilities that reasonably may prevent the individual from being self sufficient as an adult. (2) "Special needs trust" means an OBRA '93 trust, as defined in subsection a. of section 3 of P.L.2000, c.96 (C.3B:11-37), or trust governed by a written instrument which: (a) grants a trustee broad discretion to determine whether and when to distribute; (b) limits distributions during the trust term to distributions to benefit one or more protected persons, although the trust shall have at least one protected person as beneficiary; (c) provides that the trustee does not have any obligation to pay the protected person's obligations or fund his support; (d) does not give the protected person any right to require the trustee to distribute at a specific time or for a particular purpose or to assign or encumber interests in the trust; and (e) evidences the grantor's intent to supplement rather than replace or impair government assistance that the protected person receives or for which he otherwise may be eligible. b. Notwithstanding any other provision of this act or other law: (1) trustees of a special needs trust have broad discretion over distributions; (2) no creditor of a protected person may reach or attach a protected person's interest in a special needs trust and no creditor may require the trustees to distribute to satisfy a protected person's creditor's claim; and (3) a special needs trust shall terminate at such time as provided in its governing instrument. c. A special needs trust shall not be required to repay government aid provided to a protected person unless the aid was provided on the basis that the special needs trust would repay the aid when the protected person dies, or the special needs trust terminates sooner and the special needs trust instrument expressly calls for such repayment. This provision does not apply to a first-party, self-settled OBRA '93 trust as defined in subsection a. of section 3 of P.L.2000, c.96 (C.3B:11-37).  d. Notwithstanding N.J.S.3B:31-35 and N.J.S.3B:31-36, trustees of a special needs trust shall exercise their discretion in good faith to further trust purposes and courts may exercise their equity authority to remedy trustee abuses of discretion. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-38 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-38 - Discretionary trusts; effect of standard.

3B:31-38 Discretionary trusts; effect of standard.  3B:31-38. Discretionary Trusts; Effect of Standard. a. Whether or not a trust contains a spendthrift provision, a creditor of a beneficiary may not compel a distribution that is subject to the trustee's discretion, even if:  (1) The discretion is expressed in the form of a standard of distribution; or  (2) The trustee has abused the discretion.  b. This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for an abuse of discretion or failure to comply with a standard for distribution.  c. With respect to the powers set forth in section 1 of P.L.1996, c.41 (C.3B:11-4.1), the provisions of this section shall apply even though the beneficiary is the sole trustee or a co-trustee of the trust. L.2015, c.276, s.1.
NJ Rev Stat § 3B:31-39 (2021)
2021 New Jersey Revised Statutes|Title 3B - Administration of Estates--Decedents and Others|Section 3B:31-39 - Creditor's claim against settlor.

3B:31-39 Creditor's claim against settlor.  3B:31-39. Creditor's Claim Against Settlor. a. Whether or not the terms of a trust contain a spendthrift provision, the following rules apply: (1) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors. (2) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit. If a trust has more than one settlor, the amount the creditor or assignee of a particular settlor may reach may not exceed the settlor's interest in the portion of the trust attributable to that settlor's contribution.  (3) After the death of a settlor, and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable at the settlor's death is subject to claims of the settlor's creditors, costs of administration of the settlor's estate, the expenses of the settlor's funeral and disposal of remains, and to a surviving spouse or partner in a civil union and children to the extent the settlor's probate estate is inadequate to satisfy those claims, costs, expenses. b. For purposes of this section: (1) during the period the power may be exercised, the holder of a power of withdrawal is treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power; and (2) upon the lapse, release, or waiver of the power, the holder is treated as the settlor of the trust only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in section 2041(b)(2) or 2514(e) of the federal Internal Revenue Code of 1986 (26 U.S.C. s.2041(b)(2) or 26 U.S.C. s.2514(e)), or section 2503(b) of the federal Internal Revenue Code of 1986 (26 U.S.C. s.2503(b)), in each case as in effect on the effective date of this act, or as later amended. L.2015, c.276, s.1.