Solicitor trustee duty of care

A greater duty of care will devolve onto solicitor trustees, of an estimated total of £35bn of investments, with the implementation of the Trustee Act 2000. While allowing a wider discretion of investment, it will also require more energetic action in the best interests of their clients, with regular reviews, and the taking of ‘proper’ advice, on investments. Solicitors who fail in their duties could find themselves held liable for resultant losses.