Legal Articles

Trusts: Trustee Duty to Prudently Invest, Duty to Diversify

In investing the assets of a trust in stocks, bonds, securities, etc., a trustee must consider the purposes, terms, distributional requirements, and other circumstances of the trust. Section 456.8-804, RSMo. To this end, the trustee must exercise reasonable, care, skill and caution. Id. When evaluating whether a trustee has properly invested funds, investment decisions are evaluated not…

Co-trustees

While it’s much more common to have one trustee in charge of a trust, there are occasions when multiple trustees will serve jointly. From experience, it is often the case that a settlor/grantor (i.e., the person who creates the trust) will appoint co-trustees because the extent of the responsibilities calls for more than one person,…

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