Duty to Develop a Plan Archives

Trustee’s duty to develop an administrative plan or “If you don’t know where you are going you might end up somewhere else.”

By Josh Yager | April 14, 2019 |

Duty to Develop a Plan: Section 2(a) of the UPIA directs, “A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust.” In response to this duty, a prudent trustee will develop an administrative plan that projects the income and…