Massachusetts Statutes
§ 2 — Trustees managing trust assets; duty to comply with prudent investor rule
Massachusetts·Part II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS·Title II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS·Ch. 203C PRUDENT INVESTMENT
Section 2.
(a)Except as provided in subsection (b), a trustee who invests and manages trust assets shall owe a duty to the beneficiaries of a trust to comply with the prudent investor rule set forth in this chapter.
(b)The prudent investor rule may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust. A trustee shall not be liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
Free access — add to your briefcase to read the full text and ask questions with AI
Massachusetts § 2 (Trustees managing trust assets; duty to comply with prudent investor rule) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.