Continuing Legal Education

TELESEMINAR: Trust Investments: A Guide to Trustee Duties & Liability Under the UPIA – A National Perspective

May 29, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours

Telephone

The most important decisions trustees make are related to where to invest trust assets and when to liquidate those assets. These decisions have become significantly more difficult in the last several years as the stock and the real estate markets have experienced sustained volatility.  There are few, if any, “safe” investment choices that offer trusts and their beneficiaries reliable returns. Volatility has also given rise to increased litigation by beneficiaries challenging the investment decisions of trustees. This program will provide you with an understanding of the investment duties and standards of care of trustees, explain the relationship of Modern Portfolio theory to the requirements of the UPIA, and discuss best practices to avoid liability in a volatile market. 

Highlights:

  • Trustee investment duties, standards of care and liability
  • Modern Portfolio Theory – defining risk/reward, “total returns,” passive v. active investing & asset allocation
  • Balancing diversification and concentrated positions, including family businesses & when diversification is the wrong choice
  • Practical application of duties of loyalty and impartiality, and the duty to minimize costs
  • Determining when it is appropriate to delegate investment decisions to professionals – plus, related liability issues
  • Best practices for administering trust investment decisions

 

For more information about ISBA's Teleseminar programs, please visit: http://www.isba.org/cle/teleseminar

Program Speakers:
Steven B. Malech,
Wiggin and Dana, LLP, New York
Daniel L. Daniels, Wiggin and Dana, LLP, Connecticut

 

Steven B. Malech is partner in the New York City office of Wiggin and Dana, LLP, where he is chair of the firm’s probate litigation practice group.  He is represents beneficiaries, fiduciaries and creditors in disputes involving alleged violations of the Prudent Investor Act and its predecessors, alleged breaches of fiduciary duty, disputed accountings, and will contests. He represents clients in cutting edge probate litigation matters involving trusts and estates with assets in the hundreds of millions of dollars. Mr. Malech received his B.A., with special honors, from the University of Texas and his J.D. from the Connecticut School of Law.

Daniel L. Daniels is a partner in the Greenwich, Connecticut office of Wiggin and Dana, LLP, where his practice focuses on representing business owners, corporate executives and other wealthy individuals and their families.  A Fellow of the American College of Trust and Estate Counsel, he is listed in “The Best Lawyers in America,” and has been named by “Worth” magazine as one of the Top 100 Lawyers in the United States representing affluent individuals. Mr. Daniels is co-author of a monthly column in “Trusts and Estates” magazine.  Mr. Daniels received his A.B., summa cum laude, from Dartmouth College and received his J.D., with honors, from Harvard Law School.

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