Legal Question in Wills and Trusts in New York
Legal investments for trustees
May a trustee for a charitable remainder trust invest the funds only in high grade bonds or is there a
requirement that the investments be diversified
Asked on 4/01/03, 9:05 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: Legal investments for trustees
Most states now have statutes on permitted investments by fiduciaries, including trustees of CRT's. They usually permit some diversification, taking into consideration the needs of both the life tenants and the remaidermen. These should be available on line - using a souce such as FINDLAW.COM or similar legal access website.
Answered on 4/02/03, 1:45 pm
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