{"data":{"id":"us-mi/mich.-comp.-laws-700.1503","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 700.1503","heading":"Portfolio strategy; risk and return objectives.","body":"Sec. 1503.\n\nA fiduciary's investment and management decisions with respect to individual assets shall be evaluated not in isolation, but rather in the context of the fiduciary estate portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the fiduciary estate.\n\nAmong circumstances that a fiduciary must consider in investing and managing fiduciary assets are all of the following that are relevant to the fiduciary estate or its beneficiaries:\n\nGeneral economic conditions.\n\nThe possible effect of inflation or deflation.\n\nThe expected tax consequences of an investment decision or strategy.\n\nThe role that each investment or course of action plays within the overall portfolio, which may include financial assets, interests in closely-held enterprises, tangible and intangible personal property, and real property.\n\nThe expected total return from income and the appreciation of capital.\n\nOther resources of the beneficiaries.\n\nThe need for liquidity, regularity of income, and preservation or appreciation of capital.\n\nAn asset's special relationship or special value, if any, to the purposes of the fiduciary estate or to 1 or more of the beneficiaries.\n\nA fiduciary shall make a reasonable effort to verify facts relevant to the investment and management of fiduciary assets.\n\nA fiduciary may invest in any kind of property or type of investment consistent with the standards of the Michigan prudent investor rule. A particular investment is not inherently prudent or imprudent.\n\nA fiduciary who has special skill or expertise, or is named fiduciary in reliance upon the fiduciary's representation that the fiduciary has special skill or expertise, has a duty to use that special skill or expertise.","path":["MI Code","Chapter 700","Act Act-386-of-1998"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-700-1503","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"b41991c1142b0552cc9931c85641e49357f8e1786fdb363e697c43298aed48bb","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-700.1502","next":"us-mi/mich.-comp.-laws-700.1504"},"notice":"GroundRules: Original legal text. Not legal advice."}