1. A trustee shall invest and manage trust property as a prudent investor would, considering the terms, purposes, requirements for distribution, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill and caution. 2. A trustees decisions concerning investment and management as applied to individual assets must be evaluated not in isolation but in the context of the trust portfolio as a whole and as part of an overall strategy of investment having objectives for risk and return reasonably suited to the trust. 3. Among circumstances that a trustee shall consider in investing and managing trust property are such of the following as are relevant to the trust or its beneficiaries: (a) General economic conditions; (b) The possible effect of inflation or deflation; (c) The expected tax consequences of decisions or strategies; (d) The role that each investment or course of action plays within the overall trust portfolio; (e) The expected total return from income and the appreciation of capital; (f) Other resources of the beneficiaries; (g) Needs for liquidity, regularity of income, and preservation or appreciation of capital; and (h) An assets special relationship or special value, if any, to the purposes of the trust or to one or more of the beneficiaries. 4. A trustee shall make a reasonable effort to verify facts relevant to the investment and management of trust property. 5. A trustee may invest in any kind of property or type of investment consistent with the standards of NRS 164.700 to 164.775 , inclusive, which may include financial assets, interests in closely held enterprises, tangible and intangible personal property, and real property. 6. A trustee who has special skills or expertise, or is named trustee in reliance upon the trustees representation that he or she has special skills or expertise, has a duty to use those special skills or expertise.
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