3B:20-1 Definitions 3B:20-1. Definitions. As used in this chapter: a. 'Trust instrument' means and includes a will, deed, agreement, court order or other instrument pursuant to which money or other property is entrusted to a fiduciary; b. 'Fiduciary' means an individual or corporation that is authorized to act as or acts as a trustee, personal representative, conservator, guardian, and every other individual or corporation charged with the duty of administering a trust estate; c. 'Trust estate' or 'trust assets' means money or other property entrusted to a fiduciary; d. (Deleted by amendment, P.L.1997, c.26.) e. 'Beneficiary' means an individual or corporation for whose benefit a fiduciary acts or is authorized to act. Amended 1983, c.192, s.2; 1995, c.48, s.1; 1997, c.26, s.13.
New Jersey Legal Code