New Jersey Statutes 3B:4-2. Devise to trustee of trust created other than by testator’s will
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Terms Used In New Jersey Statutes 3B:4-2
- Devise: To gift property by will.
- 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. See New Jersey Statutes 3B:1-1
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
3B:4-2. A will may validly devise property to the trustee of a trust established or a trust which will be established: (1) during the testator‘s lifetime by the testator, or by the testator and some other person, or by some other person including a funded or unfunded life insurance trust, although the settlor has reserved any or all rights of ownership of the insurance contracts, or (2) at the testator’s death by the testator’s devise to the trustee, if the trust is identified in the testator’s will, and its terms are set forth in a written instrument, other than a will, executed before, concurrently with, or after the execution of the testator’s will or in another individual’s will, executed before, concurrently with or after the execution of the testator’s will, if that other individual has predeceased the testator, regardless of the existence, size, or character of the corpus of the trust.
L.1981, c.405, s.3B:4-2, eff. May 1, 1982; amended 2004, c.132, s.40.