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Fiduciary Asset Management in 2025: Evolving Duties, Digital Assets, and Litigation Risks

Examines evolving fiduciary standards through recent case law, global economic trends, and practical risk management strategies for trustees and executors.
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2025-09-05 13:00:00

2.5 hours

Joseph Testa

Testa Financial Management

David Johnson

Winstead PC

View speakers

Program Details

2025-09-05 13:00:00

2025-09-05 13:00:00

2.5h CLE Credits

2025-09-05 13:00:00

2.5 hours

See credits by state

Joseph Testa

Testa Financial Management

David Johnson

Winstead PC

View speakers

Program Details

2025-09-05 13:00:00

Program Details

2025-09-05 13:00:00

Over 1,000+ webinars

2025-09-05 13:00:00

2.5 hours

Course Overview

Navigating Evolving Fiduciary Standards and Risk Management

2025-09-05 13:00:00

Participants will learn how shifting case law, global economic forces, and heighthat performance expectations are transforming fiduciary liability. Practical strategies for documentation, investment decisions, and dispute prevention will be emphasized.

Format

CLE Credit

2.5h CLE Credits

Level

Intermediate

Length

2.5

Key topics that will be covered

01
Case Law
Recent verdicts hold fiduciaries liable for performance, not just procedural compliance.
02
Global Trends
Political, economic, and social changes create investment effects fiduciaries must address.
03
Trust Interpretation
Apply the four corners rule and document all factors under the UPIA.
04
Concentrations
Special circumstances may justify keeping concentrated assets without diversifying.
05
Distribution Disputes
Communication with beneficiaries is the primary tool for reducing conflicts.
06
Risk Management
Obtain consent agreements, proper valuations, and court instruction when needed.

Program schedule

clock 1:00 pm - 2:00 pm EST

Seminole Tribe Case and Fiduciary Standards History

This session examines the landmark Seminole Tribe vs. Wells Fargo case and its $800 million verdict, exploring how courts now hold fiduciaries accountable for performance rather than mere procedural compliance. Attendees will also review the evolution of fiduciary standards from the 1830 prudent man rule through the 1994 Uniform Prudent Investor Act.

Joseph TestaJoseph Testa
David JohnsonDavid Johnson
clock 2:10 pm - 2:40 pm EST

Global Macro-Economic Forces Reshaping Fiduciary Liability

This session analyzes how international political changes, flawed information ecosystems, and major economic shifts impact fiduciary investment decisions and liability exposure. Participants will explore cryptocurrency considerations, climate change effects on investments, and practical recommendations for adapting to the new fiduciary landscape.

Joseph TestaJoseph Testa
David JohnsonDavid Johnson
clock 2:40 pm - 3:10 pm EST

Everyday Trust Decisions That Create Legal Risk

This session focuses on trust interpretation principles, the four corners rule, and how procedural slip-ups lead to costly litigation. Attendees will learn documentation requirements under the Uniform Prudent Investor Act and understand the heightened standards applied to professional trustees.

Joseph TestaJoseph Testa
David JohnsonDavid Johnson
clock 3:20 pm - 3:50 pm EST

Resolving Disputes and Protecting Fiduciary Practices

This session covers strategies for fixing problems without court battles, including the power to adjust under the Principal and Income Act and beneficiary consent mechanisms. Participants will explore distribution standard conflicts, trustee removal scenarios, and best practices for trust termination and asset valuations.

Joseph TestaJoseph Testa
David JohnsonDavid Johnson
Joseph Testa

Joseph Testa

Testa Financial Management

David Johnson

David Johnson

Winstead PC

Joseph Testa

Joseph Testa

Testa Financial Management

Joseph Testa is an investment professional with more than thirty years of experience in the investment field, with expertise in trust management, investment oversight, and entrepreneurial ventures.

Education & Credentials

Studied in the Financial Planner Designation program at the University of Pittsburgh, where he earned his B.A.

Professional Involvement

Involved in entrepreneurial ventures through his business consulting firm, Rising Tide Capital LLC. Has consulted for various for-profit and nonprofit organizations.

Experience

Served as Chief Investment Officer of the Trust Division at Beach Bank of Vero Beach, FL. Held positions of Vice President for Northern Trust Bank and Barnett Bank Trust Company, and Investment Officer for Midlantic Bank & Trust Co./Fl. Earlier career at Merrill Lynch and Drexel Burnham Lambert. Founding Director of Marquis Bank in Miami, Florida, serving as Chair of Investment, Compliance, and Audit Committees. Co-Founder of Yotta280 (formerly 4QuartersIT.com), Chief Financial Officer of Clever Imports/Chocovine, and Board of Directors member of The Singing Machine Company.
David Johnson

David Johnson

Winstead PC

David Johnson is a trial and appellate attorney specializing in fiduciary litigation, estate and trust disputes including will contests, mental competency issues, undue influence, trust modification, breach of fiduciary duty, and accounting matters.

Recognition & Leadership

Board certified in civil trial law, civil appellate, and personal injury trial law by the Texas Board of Legal Specialization. One of less than twenty attorneys in Texas with this triple certification out of approximately 84,000 licensed attorneys.

Professional Involvement

Primary author of the Texas Fiduciary Litigator blog reporting on legal cases and issues impacting the fiduciary field in Texas. Member of the Civil Trial Law Commission of the Texas Board of Legal Specialization, which writes and grades the exam for new applicants for civil trial law certification.

Experience

Maintains active trial and appellate practice focused on fiduciary litigation. Recent trial experience includes representing a bank in federal class action suit involving 220+ trusts, representing a bank in state court regarding oil and gas asset mismanagement claims, representing a bank in probate court to modify trusts to remove a charitable beneficiary, representing an individual executor against breach of fiduciary duty claims, and representing an individual trustee against breach of fiduciary duty and undue influence claims.
Joseph Testa

Joseph Testa

Testa Financial Management

Joseph Testa is an investment professional with more than thirty years of experience in the investment field, with expertise in trust management, investment oversight, and entrepreneurial ventures.

Education & Credentials

Studied in the Financial Planner Designation program at the University of Pittsburgh, where he earned his B.A.

Professional Involvement

Involved in entrepreneurial ventures through his business consulting firm, Rising Tide Capital LLC. Has consulted for various for-profit and nonprofit organizations.

Experience

Served as Chief Investment Officer of the Trust Division at Beach Bank of Vero Beach, FL. Held positions of Vice President for Northern Trust Bank and Barnett Bank Trust Company, and Investment Officer for Midlantic Bank & Trust Co./Fl. Earlier career at Merrill Lynch and Drexel Burnham Lambert. Founding Director of Marquis Bank in Miami, Florida, serving as Chair of Investment, Compliance, and Audit Committees. Co-Founder of Yotta280 (formerly 4QuartersIT.com), Chief Financial Officer of Clever Imports/Chocovine, and Board of Directors member of The Singing Machine Company.
David Johnson

David Johnson

Winstead PC

David Johnson is a trial and appellate attorney specializing in fiduciary litigation, estate and trust disputes including will contests, mental competency issues, undue influence, trust modification, breach of fiduciary duty, and accounting matters.

Recognition & Leadership

Board certified in civil trial law, civil appellate, and personal injury trial law by the Texas Board of Legal Specialization. One of less than twenty attorneys in Texas with this triple certification out of approximately 84,000 licensed attorneys.

Professional Involvement

Primary author of the Texas Fiduciary Litigator blog reporting on legal cases and issues impacting the fiduciary field in Texas. Member of the Civil Trial Law Commission of the Texas Board of Legal Specialization, which writes and grades the exam for new applicants for civil trial law certification.

Experience

Maintains active trial and appellate practice focused on fiduciary litigation. Recent trial experience includes representing a bank in federal class action suit involving 220+ trusts, representing a bank in state court regarding oil and gas asset mismanagement claims, representing a bank in probate court to modify trusts to remove a charitable beneficiary, representing an individual executor against breach of fiduciary duty claims, and representing an individual trustee against breach of fiduciary duty and undue influence claims.

Credits by state

AK2.5
AL2.5
AR2.5
AZ2.5
CA2.5
CO2.5
CT2.5
DC2.5
DE2.5
FL2.5
GA2.5
HI2.5
IA2.5
ID2.5
IL2.5
IN2.5
KS2.5
KY2.5
LA2.5
MA2.5
MD2.5
ME2.5
MI2.5
MN2.5
MO3.0
MS2.5
MT2.5
NC2.5
ND2.5
NE2.5
NH150.0
NJ2.5
NM2.5
NV2.5
NY3.0
OH2.5
OK3.0
OR2.5
PA2.5
RI3.0
SC2.5
SD2.5
TN2.5
TX2.5
UT2.5
VA2.5
VT2.5
WA2.5
WI3.0
WV3.0
WY2.5

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1000+

Live stream programs

24/7

Access to live webinars & recordings

70,000+

Trusted by Legal Professionals

1000+

Live stream programs

24/7

Access to live webinars & recordings

70,000+

Trusted by Legal Professionals

1000+

Live stream programs

24/7

Access to live webinars & recordings

10,000+

Trusted by Legal Professionals

1000+

Live stream programs

24/7

Access to live webinars & recordings

70,000+

Trusted by Legal Professionals

MCLE Credits

Alabama
Pending
2.5 General
Alaska
Approved
2.5 General
iOur programs are CLE-eligible through Alaska’s recognition of multi-jurisdictional reciprocity.
Arizona
Approved
2.5 General
Arkansas
Approved
2.5 General
California
Approved
2.5 General
Colorado
Pending
2.5 General
Connecticut
Approved
2.5 General
Delaware
Pending
2.5 General
District of Columbia
No Required
2.5 CLE Hour(s)
Florida
Approved
2.5 General Hours
iReceive CLE credit in Florida via Attorney Submission.
Georgia
Approved
2.5 General
Hawaii
Approved
2.5 General
Idaho
Pending
2.5 General
Illinois
Approved
2.5 General
Indiana
Approved
2.5 General
Iowa
Pending
2.5 General
Kansas
Pending
2.5 Substantive
Kentucky
Pending
2.5 General
Louisiana
Pending
2.5 General
Maine
Pending
2.5 General
Maryland
No Required
2.5 CLE Hour(s)
Massachusetts
No Required
2.5 CLE Hour(s)
Michigan
No Required
2.5 CLE Hour(s)
Minnesota
Approved
2.5 General
Mississippi
Pending
2.5 General
Missouri
Approved
3 General
Montana
Pending
2.5 General
Nebraska
Pending
2.5 General
imyLawCLE reports attendance to Nebraska on each attorney’s behalf for all programs. Please do not self-report.
Nevada
Approved
2.5 General
New Hampshire
Approved
150 General minutes
iAs of July 1, 2014, the NHMCLE Board no longer provides pre- or post-approval of courses. Attendees must self-determine whether a program is eligible for credit, and self-report their attendance online at www.nhbar.org, based on qualification provisions of Rule 53.
New Jersey
Approved
2.5 General
iOur programs are CLE-eligible through New Jersey’s recognition of multi-jurisdictional reciprocity, except for the courses required under BCLE Reg. 201:2
New Mexico
Approved
2.5 General
New York
Approved
3 General
iOur programs are CLE-eligible through New York’s Approved Jurisdiction Group “B”.
North Carolina
Pending
2.5 General
North Dakota
Approved
2.5 General
iOur programs are CLE-eligible through North Dakota’s recognition of multi-jurisdictional reciprocity. Section 1, Policy 1.14
Ohio
Approved
2.5 General
Oklahoma
Pending
3 General
Oregon
Pending
2.5 General
Pennsylvania
Approved
2.5 General
Rhode Island
Pending
3 General
South Carolina
Pending
2.5 General
South Dakota
No Required
2.5 CLE Hour(s)
Tennessee
Approved
2.5 General
Texas
Approved
2.5 General
Utah
Pending
2.5 General
Vermont
Approved
2.5 General
Virginia
Not Eligible
2.5 General Hours
Washington
Approved
2.5 Law & Legal Hours
iReceive CLE credit in Washington via Attorney Submission. myLawCLE will supply Washington state attorneys with instructions on how to gain credit.
West Virginia
Pending
3 General
Wisconsin
Approved
3 General
Wyoming
Pending
2.5 General

Alabama

Requirements

The Alabama State Bar MCLE Commission requires attorneys to complete 12 credits, including 1 ethics, by December 31 of each year. All credits must be reported by February 15 of the following year. A maximum of 12 credits, including 1 ethics credit, may be carried over for 1 year only.  

Formats

  • Attorneys can earn unlimited “live” credit through live seminars, live webcasts, and co-sponsored locations with MyLAWCLE-Alabama approved programs
  • Attorneys are limited to 6 credits per compliance period of “online” programs through MyLAwCLE On-Demand programs