New Jersey § 3a:6-16

§ 3a:6-16.

As used in this act, unless the context or subject matter otherwise requires: (a) The term “estate” means the estate of a decedent or the estate of a minor or mentally

incompetent person; (b) The term “trust” means any express trust of real or personal property, or both,

created by a will, deed or other instrument whereby there is imposed upon a trustee

the duty to administer a trust asset, transferred to the trust by a testator or settlor,

for benefit of a named or otherwise described income or principal beneficiary, or

both. A trust shall not include trusts for the benefit of creditors, resulting or constructive

trusts, business trusts where certificates of beneficial interest are issued to the

beneficiary, investment trusts, voting trusts, security investments such as deeds

of trust and mortgages, trusts created by the judgment or decree of a court, liquidation

or reorganization trusts, for the sole purpose of paying dividends, interests, interest

coupons, salaries, wages, pensions or profits, instruments wherein one or more persons

are mere nominees for another or others, or trusts created in deposits in any banking

institution or savings and loan institution; (c) The term “fiduciary” means guardians, executors, administrators, administrators

with the will annexed, administrators pendente lite, trustees of express trusts, including

a corporate as well as a natural person acting as a fiduciary, and an ancillary, successor

or substituted fiduciary.