Duties of an Individual Trustee (Eldest Son, Caretaking, Daughter, CPA, Attorney, etc.)

Date: Tuesday, May 23, 2017
Time: 4:30pm - 7:00pm
Location: SB University Club
Speaker: Josh Yager, Esq., CFP

Josh Yager, Esq., CFP

Josh is a fantastic guy that loves his wife, kids, biographies about dead generals and the somewhat wonky subject of investment governance best practice.


Trustees can reduce their personal risk by creating a compliance library which demonstrates they have fulfilled each of their duties of care under the Prudent Investment Act. Developing this library demonstrates the trustee has acted prudently and in good faith which is a prerequisite to qualifying for the exculpation clause of the state statue. This library will include the documents which demonstrate the trustee has fulfill their statutorily defined obligations.

Participants will:

  1. - Understand the 5 central duties of care of a trustee:

   1. - Duty to have a plan - §16047a

               2. - Duty to balance risk and return - §16047b

               3. - Duty to diversity - §16048

               4. - Duty to pay only reasonable fees - §16050

               5. - Duty to prudently delegate - §16052

      B. - Identify a process for the development and maintenance of a fiduciary library

      C. - Share “Best Practices” for fiduciary governance procedures

      D. - Reduce trustee’s personal liability


Please RSVP by noon on Thursday May 18th, 2017 if you can attend the meeting and dinner, dinner only or unable to attend.





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