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18 Pages

TRUSTING THE PRUDENT WOMAN OF AND

Alison
WithBUSINESS: RISK, RECONCILIATION TRUSTEES' STANDARD OF CARE INVESTMENT

Alison Dunn Reviews of trust law in the last decade have highlighted the need for attention to be paid to reform of trustees' investment powers.1 The Lord Chancellor, Lord Irvine, for example, recently acknowledged that the archaic nature of trust law had meant that the law relating to trustee fowers and duties had not kept pace with the roles of trusts in modern society. Much of the attention has focused, rightly, on the outdated Trustee Investments Act 1%1, and to the need for trustees to be able to undertake investments in a range of securities once considered too risky to countenance.