3B:31-67 Duty to disclose and discretion to periodically report.
3B:31-67. Duty to Disclose and Discretion to Periodically Report.
a. A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a beneficiary's request for information related to the administration of a trust.
b. A trustee, upon request of a beneficiary, shall promptly furnish to the beneficiary a copy of the trust instrument.
c. A trustee seeking the protection of N.J.S.3B:31-74 may provide the beneficiaries with a report of the trust property, liabilities, receipts, and disbursements, including the source and amount of the trustee's compensation, a listing of the trust assets, and, if feasible, their respective market values.
L.2015, c.276, s.1.