Margaret M. Hand on Aspects of the Uniform Principal and Income Act in California Regarding Trust Accounting

California's adoption of the UPIA imposes on trustees the duty to invest and manage trust assets as would a prudent investor. Trustee are required to diversify trust investments, but may invest for total return following a modern portfolio theory. In this Analysis, Margaret M. Hand addresses the...

Margaret M. Hand on California Trustee's Duty to Account

A trustee's duty extends beyond liability for breach of a fiduciary duty. One of the trustee's primary responsibilities is to provide information and account to the trust's beneficiaries. Discharging this duty to account benefits the trustee as well as the beneficiaries. The Probate Code...