Menu
Search

News & Events

HomeNewsBlogPrudent Investor Rule Chiseled Away in Carter v. Carter

Prudent Investor Rule Chiseled Away in Carter v. Carter

Trusts and Estates Section Newsletter
Illinois State Bar Association
The First District, in an opinion last year, effectively nullified – perhaps inadvertently – an element of the Prudent Investor Rule in Illinois. The ramifications are still being felt, but trust counsel and practitioners alike must be on notice: the duty of a trustee to remain impartial when investing marital trust assets has been eviscerated by Carter v. Carter. An investment solely in tax-free municipal bonds for an entire trust was upheld without dissent in a ruling that was not filed under Rule 23.

Categories

Archives

Contact us

Get In Touch

  • This field is for validation purposes and should be left unchanged.
Call Now Button