Management (and Mismanagement) of Trust Assets
The most sophisticated trust instrument imaginable cannot salvage or disguise poor management of trust assets. A Trustee must possess, or engage agents who possess, expertise in trust law as well as expertise concerning the assets composing the trust to ensure that the trust is productive and effectively fulfills its purposes.
The following issues will be analyzed:
- Duty of diversification
- Risks associated with asset retention
- Challenges arising from holding closely-held businesses interests
- Handling other non-traditional assets