Fiduciary Support:
Trust Insurance Advisory
Carrier Quality Monitoring
Policy Performance Monitoring
Policy Management Statement
Fiduciary Protection Process
The Uniform Prudent Investor Act (UPIA) requires trustees to monitor performance of trust assets, investigate the appropriateness of trust holdings relative to peer-group alternatives, and manage trust assets in a manner that demonstrably minimizes costs and maximizes benefits. Trustees have a fiduciary duty to manage the assets in a trust for the benefit of the beneficiaries. That is why each state has laws that establish standards trustees must follow when managing a trust’s assets.
A trustee who doesn’t meet these standards can be held personally responsible for trust losses:

To reduce the risk of personal liability and maximize the benefits for the beneficiaries,
trustees need to:
  • Understand the objectives and terms of the trust.
  • Develop a reasonable investment strategy – complete the Life Insurance Design Questionnaire (LIDQ).
  • Adopt a written Policy Management Statement.
  • Implement the strategy with appropriate Life Insurance Product.
  • Regularly review policies and investments
  • Make changes as needed.
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