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Abstract: 

The investment of trust assets can create liability traps for the unwary. Trustees and their advisors must be cognizant of strategies to minimize fiduciary risk. Diversification is key. Investment diversification is one of the central tenets of the Prudent Investor Rule,the law governing the investment of trust assets in most jurisdictions. Diversification is a risk management technique, and a trustee is required to diversify unless the trustee reasonably determines that it is in the interests of the beneficiaries not to diversify.

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Affiliations:  1: Lazard Wealth Management LLC.