N.J. Stat. § 3B:17-13: Effect of nonjudicial settlement or waiver of account.

81. Unless the governing instrument expressly provides otherwise, an instrument settling or waiving an account, executed by all persons whom it would be necessary to join as parties in a proceeding for the judicial settlement of the account, shall be binding and conclusive on all other persons who may have a future interest in the property to the same extent as that instrument binds the person who executed it.

L.2004,c.132,s.81.