Posts From 2008

Satisfying the UPIA through Professional Investment Advice and the Creation of the Investment Policy Statement

This article was originally published in California Trusts and Estates Quarterly, Volume 13, Issue 4, 2008

By Christopher D. Carico |Partner

Larry K. Prutch, CFP, CIMA, Institutional Consulting Director,** and Cengiz Volkan, CFP, CIMA, Institutional Consulting Director***

I. Introduction

The Uniform Prudent InvestorAct (“UPIA”) imposes complex investment requirements on private trustees.1 Estate planning attorneys protect trustee-clients by participating in the creation of a detailed investment policy statement (“IPS”), which documents the investment…

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