(a) Except as otherwise 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 set forth in sections 30-3883 to 30-3889 . (b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
Neb. Rev. Stat. § 30-3883
Prudent investor rule
Applied in 1 court decision — leading case 32 Neb. Ct. App. 191 - In re Estate of Chess (2023)
Most recently applied in 32 Neb. Ct. App. 191 - In re Estate of Chess (August 2023)
Laws 1997, LB 54, § 2; R.S.1943, (1997), § 8-2202; Laws 2003, LB 130, § 83.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.