As a non-professional trustee who is preparing to invest trust assets as part of my trust administration, do I really need to hire a professional financial advisor?

A: Though you are not legally required to hire an investment professional when investing trust assets, it is strongly advised and could save you expensive litigation with affected beneficiaries down the line.

A trustee is judged on his or her investment strategy or how investment decisions were made, not the actual outcome of those decisions in the unpredictable financial market. 

Still, most individuals can’t make investments with the level of professional insight necessary to best serve the beneficiaries of the affected trust. Any trustee who presumes to invest trust assets needs to know that investment management has a tremendous impact on the lives of the trust beneficiaries and, accordingly, is taken very seriously. Trustees are liable for their investment decisions, and their motivations are held up to a professional standard. 

Fortunately, you can help protect yourself from liability by taking on a professional financial advisor when investing trust assets. 

If you are a California trustee who wants to act in the best interests of your beneficiaries but are struggling with difficult or confusing complications in the process, we may be able to help. The San Diego probate attorneys with The Grossman Law Firm offer San Diego trust administration, will contests, estate planning, probate, and trust litigation services. If you’re ready for a free 30-minute case review with one of our lawyers, call our offices toll-free at 888-443-6590. You may also reach us online through our quick contact form.

Additionally, make sure you order a copy of Scott Grossman’s essential guide The Insider’s Guide to California Probate And Trust Administration, which is available to you FREE.