Fiduciary Duties and Responsibilities:

• Duty to prudently invest
• Duty to administer trust in good faith
• Duty of loyalty to the beneficiaries
• Duty of impartiality among beneficiaries
• Duty to manage costs
• Duty to exercise special skills or expertise
• Duty to protect the trust property
• Duty to keep records and keep assets separate
• Duty to pursue claims
• Duty to inform and account to beneficiaries

Exercising due diligence in maintaining fiduciary standards of care:

• Know standards, laws, and trust provisions
• Diversify assets to specific risk/return profile of client
• Prepare investment policy statement
• Perform legal review of all service agreements and contracts with custodians and managers
• Use "prudent experts" and document due diligence
• Control and account for investment expeneses
• Monitor the activities of "prudent experts"
• Advice to avoid conflicts of interests and prohibited transactions
• Annual accountings and legal notices