Orange County California
Trust Attorneys

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 Can I hire an investment advisor to assist me in investing trust assets as the trustee of an Orange County trust? In many cases, yes, you can hire someone to assist you with the investing of trust assets. California law does permit trustees to seek out this assistance under the Uniform Prudent Investor Act. In addition, it is wise to have your Anaheim trust lawyer carefully review the terms of the trust to fully understand what your duties are as trustee and to what extent you can delegate those responsibilities.

Under the Uniform Prudent Investor Act, the rules for engaging an investment advisor are as follows:

  • Trustees can delegate investment functions if it is prudent under the circumstances.
  • Similarly, trustees can delegate management functions if it is prudent under the circumstances.
  • Trustees can limit their potential liability by delegating their responsibilities, although they are still required to conform to the requirements of the Act. This includes making delegation decisions that are prudent under the circumstances.
  • Trustees must choose the investment advisor who will be handling trust assets with care, skill, and caution.
  • Trustees must also use care, skill, and caution when defining the scope and terms of the advisory relationship.

 Can I hire an investment advisor to assist me in investing trust assets as the trustee of an Orange County trust? Hiring a financial advisor to make investment decisions can be a huge assistance to the trustee of a California trust. The trustee must be careful when deciding whom to hire, when to hire, and when defining the relationship, however. Our office of experienced Anaheim trust attorneys can help you make these decisions and oversee the process of carrying out your duties. Call us today at (714) 459-5481 for a consultation.

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