Legal Question in Wills and Trusts in New Jersey

Trust administration

My question: is it legal for a trust lawyer to commingle the funds from three separate trusts (three different individuals)? All of the assets of the three trusts are now in one account. This option was not included in any of the trust documents.

If this is not legal, what are the possible penalties in the state of NJ?

Thanks, in advance, for your response.


Asked on 4/28/09, 9:37 pm

1 Answer from Attorneys
Nancy M. Rice, Esq., CELA Elder Law Offices of Nancy M. Rice

Re: Trust administration

I would need to see the trust document. If it is not permitted, the Trustee would be liable for moneys improperly distributed, etc. The beneficiaries would have the right to take the Trustee to court if he/she/it does not cooperate.

Read more
Answered on 4/29/09, 10:28 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in New Jersey