3B:23-9 - Agreement among successors binding on personal representative - New Jersey Statutes

3B:23-9.  Agreement among successors binding on personal representative
    Subject to the rights of creditors and taxing authorities, competent successors may agree among themselves to alter the interests, shares, or amounts to which they are entitled under the will of the decedent, or under the  laws of intestacy, in any way that they provide in a written contract executed  by all who are affected by its provisions.  The personal representative shall  abide by the terms of the agreement subject to his obligation to administer the  estate for the benefit of creditors, to pay all taxes and costs of  administration, and to carry out the responsibilities of his office for the  benefit of any successors of the decedent who are not parties.  Personal  representatives of decedents' estates are not required to see to the  performance of trusts if the trustee thereof is another person who is willing  to accept the trust. Accordingly, trustees of a testamentary trust are  successors for the purposes of this section.  Nothing herein relieves trustees  of any duties owed to beneficiaries of trusts.

     L.1981, c. 405, s. 3B:23-9, eff. May 1, 1982.