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About The Law of Trustee Investments
This book takes a very practical approach to the question that should be asked by every trustee, especially non-professional trustees: How do I fulfill my fiduciary duties to the trust beneficiaries (and thereby avoid liability for failure to do so) in determining how to invest the trust assets? The book begins with an in-depth introduction to investment basics, examines such issues as the law of diversification and the prudent investor act standard, explores how to determine breach and damages, and explains the effects of principal and income acts on investing. It concludes by addressing the drafting of an investment plan by the trustee, a key topic because under the UPIA a fiduciary is judged not on his or her actual investment performance, but rather on the appropriateness of the investment plan. This chapter provides practical guidelines for newly-appointed trustees on how to develop such a plan, including specific comments directed to life insurance trusts, where a life insurance policy is usually the primary investment. Appendices offer sample trust investment language and an investment plan flow chart.
About the Author
Christopher P. Cline is Wells Fargo Bank's Regional Wealth Management Director for Oregon and SW Washington. His career includes over 15 years of experience in the estate planning field with such firms as Holland & Knight LLP and Lane Powell LLP in Portland, and Pillsbury, Madison, & Sutro LLP in San Francisco. Chris is a fellow of the American College of Trust and Estate Counsel and a Past President of both the Portland Estate Planning Council and the Oregon State Bar's Estate Planning and Administration Section. He is the author of several books and articles on various estate planning topics.
