About: Duty of Prudence

An Entity of Type: Thing, from Named Graph: http://dbpedia.org, within Data Space: dbpedia.org:8891

In Trust Law, the Duty of Prudence traditionally includes the duty of a trustee to administer a trust with a degree of care, skill and caution. The degree of care required depends both on the jurisdiction on the trustee's actual or purported skill, for example if they have an accounting background (or claimed to have one), they must exercise professional care. At a minimum, a trustee is required to act with the care of a "prudent person" would in dealing with the assets of another, given the purposes, terms, and other circumstances of the trust.

Property Value
dbo:abstract
  • In Trust Law, the Duty of Prudence traditionally includes the duty of a trustee to administer a trust with a degree of care, skill and caution. The degree of care required depends both on the jurisdiction on the trustee's actual or purported skill, for example if they have an accounting background (or claimed to have one), they must exercise professional care. At a minimum, a trustee is required to act with the care of a "prudent person" would in dealing with the assets of another, given the purposes, terms, and other circumstances of the trust. Many jurisdictions have codified specific extensions or interpretations to this duty, for example related to investments, the Uniform Prudent Investor Act adopted in many U.S. states requires the application of modern portfolio theory in diversifying investment. (en)
dbo:wikiPageID
  • 47629962 (xsd:integer)
dbo:wikiPageLength
  • 1079 (xsd:nonNegativeInteger)
dbo:wikiPageRevisionID
  • 1086203866 (xsd:integer)
dbo:wikiPageWikiLink
dbp:wikiPageUsesTemplate
dcterms:subject
rdfs:comment
  • In Trust Law, the Duty of Prudence traditionally includes the duty of a trustee to administer a trust with a degree of care, skill and caution. The degree of care required depends both on the jurisdiction on the trustee's actual or purported skill, for example if they have an accounting background (or claimed to have one), they must exercise professional care. At a minimum, a trustee is required to act with the care of a "prudent person" would in dealing with the assets of another, given the purposes, terms, and other circumstances of the trust. (en)
rdfs:label
  • Duty of Prudence (en)
owl:sameAs
prov:wasDerivedFrom
foaf:isPrimaryTopicOf
is dbo:wikiPageWikiLink of
is foaf:primaryTopic of
Powered by OpenLink Virtuoso    This material is Open Knowledge     W3C Semantic Web Technology     This material is Open Knowledge    Valid XHTML + RDFa
This content was extracted from Wikipedia and is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License