By Fredrick P. Niemann, Esq., a New Jersey Estate Administration Attorney
A fiduciary is not individually liable on a contract properly entered into in his or her fiduciary capacity in the course of the administration of the estate unless he or she fails to reveal his or her fiduciary capacity and the identity of the estate in the contract.
That’s the key to this rule. Executors, trustees beware: Disclose your fiduciary status or you can be held personally liable!
If you have questions regarding a probate estate administration matter in New Jersey, please contact Fredrick P. Niemann, Esq. toll-free at 855-376-5291 or email him at email@example.com.