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PROBATE & PROPERTY MARCH/APRIL 2008 45 The National Conference of Commissioners on Uniform State Laws approved the Uniform Prudent Investor Act (the “Act”) in 1994, and a majority of the states have since adopted it in various forms. Section 3 of the Act (“Section 3”) sets forth the basis for a trustee’s duty to diversify trust assets and focuses on the trust portfolio as a whole rather than on individual investmennts The purpose of this article is to examine diversificattio from an investment...

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