(a) Except as provided in subsection (b) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule, as set forth in sections 45a-541 to 45a-541l, inclusive.

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Terms Used In Connecticut General Statutes 45a-541a

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional and successor trustee and a cotrustee. See Connecticut General Statutes 45a-499c

(b) The prudent investor rule is a default rule that may be expanded, restricted, eliminated or otherwise altered by provisions of the trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on provisions of the trust.

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