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08.31.2016
The New Jersey Uniform Trust Code – Part 10D: Duties, Defenses and Liabilities of Trustees, Including Limitations of Actions for Trustee Liability
D. The Duty to Disclose Section 813 of the model UTC is among the most controversial provisions. It is adopted in N.J.S.A. § 3B: 31-67. Both the model and New Jersey versions deal with the trustee’s duties of disclosure. The basic concept is not controversial; the level of disclosure is. See generally Kevin D. Millard, […]
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08.26.2016
The New Jersey Uniform Trust Code – Part 10C: Duties, Defenses and Liabilities of Trustees, Including Limitations of Actions for Trustee Liability
C. Remedies and Damages for Breach of Trust Remedies/Damages for Breach of Trust: Restatement and NJ Common Law Under the Second Restatement, “[t]he beneficiary of a trust can maintain a suit (a) to compel the trustee to perform his duties as trustee; (b) to enjoin the trustee from committing a breach of trust; (c) to […]
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08.23.2016
The New Jersey Uniform Trust Code – Part 10B: Duties, Defenses and Liabilities of Trustees, Including Limitations of Actions for Trustee Liability
B. Trustee Defenses to Claims of Breach of Trust Trustee Defenses: New Jersey UTC Limitation of actions Perhaps the most important change in the law regarding trustee liability and defenses is the adoption by the NJ UTC of a limitation of action provision. N.J.S.A. § 3B: 31-74. That statute adopts specific time limits under New Jersey […]
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08.17.2016
The New Jersey Uniform Trust Code – Part 10A: Duties, Defenses and Liabilities of Trustees, Including Limitations of Actions for Trustee Liability
This section addresses the standards under the NJ UTC, New Jersey common law, and the Restatement of Trusts. Given the breadth of this area, the assessment will fall into four areas: (A) the basic duties of the trustee for which claims may arise; (B) defenses to those claims, including limitations of actions; (C) damages and […]
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Frank Demmerly
Frank R. Demmerly, Jr. is a Stockholder in the law firm of Archer & Greiner, P.C. He provides estate planning, estate administration and estate and gift tax advice. Taking into account client’s personal and tax objective, he provides Wills, Trusts, Irrevocable Life Insurance Trusts (“ILIT”S”), Power-of-Attorney, Healthcare Proxies, Living Wills, planning and implementation of simple and complex gifting programs (which may use GRAT’S, QPRT’S and other complex techniques), Charitable Remainder trusts, Charitable Foundations, and other estate planning services. He assists clients with the complexities of administration of estates including probate, the preparation and filing of estate tax returns and estate and trust funding and distributions .