Around The Water Cooler this morning, we’re talking about trust investments, the importance of updating retirement account beneficiaries, and “directed trusts.”
- In The (Im)Prudent Man Rule at Seeking Alpha, David Kotok provides a historical approach to the “prudent man rule” regarding trust investments.
- In an egregious case of imprudent investing, the New Jersey Law Journal provides a summary of Matter of the May 1, 1992 Mark Family Trust, a case in which the Trustee, a New York attorney, invested trust assets in a hedge fund run by his own son who had no training or license in trading securities.
- At Investopedia, Denise Appleby provides an important reminder about The Importance of Updating Retirement Account Beneficiaries.
- In a piece particularly relevant to investment managers, Keith Grissom discusses the rise of “directed trusts.”