New Jersey § 3b:19b-24

§ 3b:19b-24.

A trustee shall make the following disbursements from income to the extent that they

are not disbursements to which paragraph (1) or (2) of subsection b. of section 5

of this act applies: a. commissions allowed by law to a trustee on income receipts, if properly chargeable

to the trust; b. one-half of the fees paid to banks and other financial institutions for custodial

services to the fiduciary if properly chargeable to the trust; c. all of the other ordinary expenses incurred in connection with the administration,

management, or preservation of trust property and the distribution of income, including

interest paid by the trustee, including interest on death taxes, regularly recurring

taxes assessed against any portion of the principal, water rates, bond premiums, and

the expenses, including court costs, attorneys' fees, and accountants' fees, of an

accounting, judicial proceeding or other matter that concerns primarily the income

interest, unless the court directs otherwise; and d. recurring premiums on insurance covering the loss of a principal asset or the loss

of income from or use of the asset.