Excerpt from Liabilities of Trustees for Investments: General Principles; Statutes and Decisions of the Various States; Typical List of Investments Legal in Connecticut, Massachusetts, Maryland and New York A careful search has revealed the fact that there is no separate treatise in the United States dealing with the subject of investments by trustees. It has seemed advisable, therefore, to prepare a volume devoted to a discussion of general principles, a compilation of the statutes of the states, and a digest of the leading decisions in each state. For the benefit of trustees and for the purpose of indicating the extent to which some of the states have gone in extending the field of investments, a list of securities which are legal in those states has also been added. Although the list may be revised slightly from time to time, the securities named are standard and are, with a few exceptions, likely to remain legal. Lack of uniformity in the laws of the various states is notable, and the work will justify itself if it affords a present guide for the proper investment of trust funds and at the same time indicates the necessity for uniform laws on the subject and the creation of reliable sources of information for the benefit of trustees. The need for such a book has been evident in connection with the preparation of the legal discussions for Trust Companies Magazine, and the author wishes to express his appreciation for valuable suggestions made by the editor of Trust Companies Magazine, and Mr. Orrin R. Judd, Assistant Trust Officer of the Columbia-Knickerbocker Trust Company. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

The use of trusts, both revocable and irrevocable, is growing, and it is increasingly important for the trustee to prudently invest the trust's assets. The Madoff scandal and legislative developments have highlighted the importance of that duty. Written with the individual trustee in mind - lawyers, individuals acting as trustees, financial planners, and accountants - this book examines the law of diversification, investment directions, determining breach and damages, and provides guidelines for drafting an investment plan.

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