Problems of Trust Administration in New Jersey* Section v. Distribution of Trust Assets
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چکیده
A. Instruction to Pap Specific Sums. Having paid funeral expenses, debts and administrative expenses, the trustee is under a duty to distribute as directed by the instrument or by rules of law. Legatees must be paid within one year of the decedent's death, but if the corpus is insufficient to pay legacies they are subject to abatement and the trustee may recover excess already paid, in good faith and sound discretion.
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