Expertise Creates a Higher Bar
Not all trustees are held to the same standard. This statute says that a trustee who has special skills or professional expertise must actually use them. And if someone became a trustee because they represented that they had particular expertise, the law holds them to that representation whether or not they actually possess those skills.
A trustee who has special skills or expertise, or who is named trustee in reliance on the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.
A.R.S. § 14-10806This matters most for professional trustees, such as banks, trust companies, attorneys, or financial advisors who serve in a trustee capacity. These trustees cannot claim they should be judged by the same standard as an inexperienced family member. Their professional background raises the bar.
What This Means for Choosing a Trustee
For families selecting a successor trustee, this statute highlights an important tradeoff. A professional trustee brings expertise and will be expected to use it. A family member may bring personal knowledge of the beneficiaries but will generally be held to the baseline prudent person standard from A.R.S. 14-10804.
The flip side is also worth noting. If a family member trustee happens to be a CPA, financial planner, or attorney, their professional background elevates the standard they are held to. They cannot set aside their expertise just because they are serving in a family capacity. The law expects them to bring their full skill set to the job.
