Legal Question in Wills and Trusts in New Jersey

remainder of estate in trust for a period of 12 months

I'm an executrix of a will. It states: I give, devise and bequeath all the rest, residue and remainder of my estate to ______ in trust for a period of twelve months from the date of death and shall not be subject to the consent or confirmation of any court. Does in trust mean for me to keep the remainder in trust for 12 months from time of death and then give to beneficiary? Thank you for your advice.


Asked on 7/27/04, 10:31 am

2 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: remainder of estate in trust for a period of 12 months

Yes. Unfortunately, it also means that you have to qualify before the Surrogate as Trustee also, if you have not already done so. This second qualification may possibly be avoided if the estate distribution has legitimate reasons to be deferred for 12 months anyway (such as if you have inheritance or estate tax filings and they are not approved until more than 12 months from the date of death took place). Technically, if this was a simple estate capable of being distributed earlier than 12 months, the second qualification should occur. This just results in duplicate probate costs being incurred.

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Answered on 7/27/04, 10:50 am
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

Re: remainder of estate in trust for a period of 12 months

The language you quoted seems odd as normally there would be a direction to pay the fund to the beneficiary (also, I can't see the point in holding assets in trust for one year)...but based on what you have indicated, I think you are correct. The residuary estate is to be held in trust for one year after death and then paid to the beneficiary.

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Answered on 7/27/04, 11:01 am


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