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08.12.2016
The New Jersey Uniform Trust Code – Part Eight: Revocable Trusts
Revocable Trusts Article 5 of the NJ UTC contains miscellaneous provisions related to revocable trusts. Certain of these concepts (e.g., modification, termination) are covered in more detail in other areas of this article. As delineated above, for instance, this article describes the capacity of the settlor required with respect to revocable trusts and establishes that […]
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08.09.2016
The New Jersey Uniform Trust Code – Part Seven: Creditor’s Claims and Spendthrift and Discretionary Trusts
Creditor’s Claims and Spendthrift and Discretionary Trusts Article 4 of the NJ UTC deals with creditor’s claims and spendthrift and discretionary trusts. See N.J.S.A. §§ 3B:31-35 to -41. Spendthrift provisions To the extent a beneficiary’s interest is not protected by a spendthrift provision, N.J.S.A. § 3B:31-35 permits a creditor or assignee of a beneficiary to […]
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08.04.2016
The New Jersey Uniform Trust Code – Part Six: Probable Intent as to Trusts
PROBABLE INTENT AS TO TRUSTS The doctrine of probable intent had been codified with the probate code effective in February 2005, in N.J.S.A. § 3B:3-33.1. As to trusts, N.J.S.A. § 3B:3-33.1(b) provides in part (emphasis added): The intention of a settlor as expressed in a trust, or of an individual as expressed in a governing […]
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08.01.2016
The New Jersey Uniform Trust Code – Part 5B: Reformation, Modification, Interpretation, Revocation And Termination Of Trusts
Reformation, Modification and Termination: New Jersey Common Law Reformation Under New Jersey common law, the power of reformation enables the court to correct a mistaken trust term or provision that frustrates the purpose of the trust. When a mistake frustrates the purpose of a trust, a court in equity will reform the trust and bring […]
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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 .