Trustee’s Duty to Diversify

Trent S. Kiziah (Los Angeles, CA) recently published his article entitled The Trustee’s Duty to Diversify:  An Examination of the Developing Case Law, 36 ACTEC L.J. 357 (Fall 2010).  The introduction is below: 

Under the Uniform Prudent Investor Act (1994) (hereinafter “UPIA”), a trustee has a duty to diversify the investments of the trust unless special circumstances justify retention of the concentration or the operative document waives the duty to diversify.  This article explores what circumstances justify retention of a concentration and what language waives the duty to diversify.