Diversify, diversify, diversify. That's the mantra for trust investing under the Uniform Prudent Investor Act (UPIA), which has been adopted in some way, shape or form in virtually every state. It makes sense. Having all of your eggs in one basket can be dangerous. Look at Lehman Brothers and Enron. But what if the concentrated stock position in the trust is a controlling interest in a family business, and the trust's primary purpose is to perpetuate family control? In this ...

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