Michael Grill, of Holland & Knight LLP, writes about what legal standard a trustee must adhere to when he or she also participates in the control of a family or closely held business. He notes that courts continue to grapple with this question and then notes that the high courts in both Georgia and Nebraska have recently provided their own analyses.
Read the full blog post including his analysis of Rollins v. Rollins and Estate of Stuchlik at: Trustees Beware: Which Fiduciary Standard Applies to Your “Business Judgments”? | Holland & Knight LLP – JDSupra
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.