The bane of many a Trustee's existence is the responsibility and potential liability associated with holding, and perhaps having to dispose of, trust property that does not readily lend itself to routine trust administration. Such types of trust property include various types of tangible personal property, various categories of real estate, closely-held business equity, mineral interests, intellectual property, digital assets and even concentrations of traditional trust assets. In addition to the practical administrative challenges the Trustee faces in handling unusual trust investments, the Trustee may also be confronted with conflicting demands from beneficiaries regarding those investments. In this teleconference, we will introduce and evaluate the following topics:

• The Uniform Prudent Investor Act and a Trustee's Duty of Diversification

• Unique Challenges Arising from Holding a Closely-Held Business Interest

• Trust Assets Not in Trustee's Physical Possession or Direct Control

• Steps to Mitigate Risk

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