New Jersey legislation · 2026-2027 Regular Session
New Jersey S4598: Trustee of trust-terminate service w/o filing formal accounting with court
Status: In committee, September 28, 2026
Authorizes trustee of trust, under certain circumstances, to terminate service without filing formal accounting with court or obtaining release agreements from beneficiaries.
What the bill says
An Act concerning termination of trusteeship and supplementing chapter 70 of Title 3B of the New Jersey Statutes.
From the introduced text, September 28, 2026:
An Act concerning termination of trusteeship and supplementing chapter 70 of Title 3B of the New Jersey Statutes. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. Statutory Settlement of Trustees Administration. a. A trustee may settle its account pursuant to this section if: (1) the trust terminates in whole or in part; (2) the trustee ceases to serve for any reason; or (3) the trustee seeks discharge for an interim accounting period when it will continue to serve as trustee. b. When a trustee elects to proceed pursuant to this section, the trustee shall, within a reasonable time, give notice of a request for settlement of its account in the manner and to the extent required by section 1 of P.L.2015, c.276 (C.3B:31-9 and C.3B:31-10) to: (1) the qualified beneficiaries of the trust; (2) any other beneficiary who has sent the trustee a request for notice; (3) any person who has the notification rights of a qualified beneficiary under section 1 of P.L.2015, c.276 (C.3 and (4) any co-trustee, successor trustee, adviser, or other fiduciary. c. The trustee may also provide notice to any other person who the trustee reasonably believes may have an interest in the trust. d. The notice under this section shall provide: (1) The reason for providing the …
Sponsors
- John F. McKeon (D, 27) · primary sponsor
Latest actions
- : INT 1RS REF SJU
Subjects: JUDICIARY - COURT ADMINISTRATION
Common questions
- What is S4598?
- S4598 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Trustee of trust-terminate service w/o filing formal accounting with court.
- What does S4598 do?
- In its own words: An Act concerning termination of trusteeship and supplementing chapter 70 of Title 3B of the New Jersey Statutes.
- What is the status of S4598?
- In committee as of September 28, 2026. Latest action: INT 1RS REF SJU (September 28, 2026).
- Who sponsored S4598?
- John F. McKeon (D, 27).
- Where is the official record for S4598?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/S4598
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.