Clarifies procedures for resignation, removal, and succession of fiduciaries.

This New Jersey bill (S 119) clarifies procedures for fiduciaries - such as estate executors and trust managers - to resign, be removed, or be discharged from their roles. It specifies requirements including written notice to co-fiduciaries, compliance with governing documents (like wills), appointment of a successor, and adherence to Surrogate court procedures for court-appointed fiduciaries. The bill ensures fiduciaries remain liable for past actions (e.g., embezzlement or mismanagement) even after resignation or removal, and it streamlines succession to prevent administrative gaps. It directly affects individuals managing estates or trusts under New Jersey law.