Prudent Investing for Florida Trustees
Florida trustees have many fiduciary obligations or duties. One of them is to invest trust assets prudently. While a lot of people know what prudent is, very few people actually know what prudent investing is and what’s required under Florida Trust Law to invest prudently. Don’t look in the Florida Trust Code for Florida’s Prudent Investor Rule because it’s in Chapter 5.18, but you should read it. It’s serious stuff, and a trustee who doesn’t invest prudently can be personally liable for investment losses or damages. Without going into the depth of Florida’s Prudent Investor Rule, you need an investment strategy, you need a plan, and you need to effectuate that plan. Florida trustees can also comply with the Florida Prudent Investor Rule by delegating investment functions to a agent who will handle all investment functions.