Trusts & Estates Quarterly, Volume 31, Issue 3, 2025

A Framework for Compliance With the Prudent Investor Act or… Why You Did What You Did When You Did It
By Ryan Wolfshorndl, CFA, CFP® and Josh Yager, Esq.
This article presents a practical framework for trustees and investment committee members to comply with the California Prudent Investor Act, emphasizing structured governance, clear documentation, and defensible decision-making in trust administration. It outlines key fiduciary duties, including planning, diversification, fee oversight, conflict management, delegation, and monitoring.

Clarity and Consistency: Final Estate Tax Regulations on Consistent Basis and Reporting
By Michael Gerson, Esq. and Liz Lindsay-Ochoa, Esq.
This second installment in a two-part series on IRC sections 1014(f) and 6035 examines final regulations issued under those sections. The article discusses these regulations and the related estate tax reporting and consistent basis requirements. It also highlights significant changes from the proposed regulations, including removal of the zero-basis rule for omitted property and when executors must provide information to beneficiaries.

Until Death Do Us Part: Part III: The Litigation of Spousal Fiduciary Breaches Under the Family Code in the Post-death Setting
By James P. Lamping, Esq.
This article analyzes how spousal fiduciary duties under Family Code sections 721 and 1101 impact post-death litigation, especially in financial elder abuse cases. It explores legal presumptions, statutes of limitations, remedies available, and key case law, offering practical insights for attorneys handling disputes over community property after the death of a spouse.

Tips of the Trade: The Death of Finality: How Revised Section 664.6 May Limit Certainty in Trust and Estate Settlements
By Scott E. Rahn, Esq., Mathew M. Wrenshall, Esq., and Phillip J. Szachowicz, Esq.
How new rules for enforcing settlements could complicate probate practice.

Letter From the Former Chair
Written by Michael Rosen-Prinz

Letter from the Former Editor
Written by Michael S. Brophy, Esq., Courtney A. Sorensen, Esq., Sara Z. May, Esq., Ann Kinsey Schu, Esq., and Owen A. Huelsbeck, Esq.

Litigation Alert
Written by Michael S. Brophy, Esq., Courtney A. Sorensen, Esq., Sara Z. May, Esq., Ann Kinsey Schu, Esq., and Owen A. Huelsbeck, Esq.

Tax Alert
Written by Jenny Hill Bratt, John Crisp, Darian Hackney, Justin Hepworth, Allison Hirsh, Jacob Kwitek, Mariah Lohse, Austin Prewitt, Corey Steady