Kenneth Vercammen is a Middlesex County Trial Attorney who has published 130 articles in national and New Jersey publications on Criminal Law, Probate, Estate and litigation topics.

He was awarded the NJ State State Bar Municipal Court Practitioner of the Year.

He lectures and handles criminal cases, Municipal Court, DWI, traffic and other litigation matters.

To schedule a confidential consultation, call us or New clients email us evenings and weekends via contact box

Kenneth Vercammen & Associates, P.C,

2053 Woodbridge Avenue,

Edison, NJ 08817,

(732) 572-0500

Friday, August 11, 2017

Removed or discharged fiduciary to deliver assets

3B:14-5. Removed or discharged fiduciary to deliver assets

3B:14-5. Removed or discharged fiduciary to deliver assets to successor

A fiduciary when removed or discharged shall forthwith deliver to his cofiduciary or the substituted fiduciary succeeding him all the assets of the estate which he holds, and shall, within 60 days after the accounting and settlement as provided in N.J.S. 3B:14-7, pay over to the cofiduciary or substituted fiduciary, as the circumstances of the case may require or the court may order, any balance shown to be due.

L.1981, c. 405, s. 3B:14-5, eff. May 1, 1982.
3B:14-6. Penalty for failure of removed or discharged fiduciary to account or deliver assets

A fiduciary who fails to account as provided by N.J.S. 3B:14-7 or who fails to comply with the provisions of N.J.S. 3B:14-5, or any order entered thereunder, shall be liable to a fine not exceeding the amount of the estate in the hands of the fiduciary and shall also be liable for contempt for disobeying or failing to perform any court order or for failing to pay the fine.

All fines hereunder shall be collected by execution against the real or personal property of the defaulting fiduciary and shall be collected in favor of the person to whom the defaulting fiduciary should have made the payment or delivery and shall be received as assets by the cofiduciary or substituted fiduciary succeeding to the management of the estate.