Prudent Investor Act

A state law that sets the standard of fiduciary duty for those entrusted with the responsibility of investing assets of a trust or estate and other assets they hold in a fiduciary capacity, such as a trustee or executor. The prudent investor act requires a fiduciary to weigh the risks versus rewards when making investment decisions and take into account income that may be generated by the investment.

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Reference: Prudent Investor Act