Alert September 09, 2014

Client Alert - The Woodward Case: Guidance to Trustees on Their Duties Under the Massachusetts Prudent Investor Act

The firm’s Trusts & Estates Court Practice issued a client alert that discusses the Massachusetts Supreme Judicial Court’s recent decision in Woodward School For Girls, Inc. v. City of Quincy holding that a trustee, absent special circumstances, has a duty to invest with inflation in mind, and that while not required to follow an investment advisor’s advice, a trustee cannot, without sufficient reason, simply ignore that advice.