Asked in Probate and Estate Planning for New Jersey

Q: In NJ, is it fraud to make distributions dependent on signiture not to sue if willfull misconduct is later discovered?

Executor/trustee insists he won't give anything until all beneficiaries sign a document which says they agree that the will and trust documents state that the beneficiaries have no right to an accounting. The document also states that they cannot sue for any purpose, even if facts are later discovered that would have affected the decision to sign, and even if the trustee committed willful misconduct. I have heard that it is almost impossible to remove a trustee in NJ; to do so, one needs unmistakable proof of fraud. Is this document he wants the beneficiaries to sign unmistakable proof of fraud and grounds for removal?

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1 Lawyer Answer
Morris Leo Greb
Morris Leo Greb
  • Estate Planning Lawyer
  • Rockaway, NJ
  • Licensed in New Jersey

A: Are you referring to a release and refunding bond or another document. If a release and refunding bond, you may insist on amending the document so the release excludes waiving any rights against the executor for improper action but the refunding bond should be signed if written in the traditional language of a typical refunding bond. The release portion can be worded to the extent that it acknowledges receipt of whatever the actual distribution is.

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