[WSBAPT] PR best advice on investments when portfolio is down

[Eric Nelsen]

As we live in interesting times, I am cursed with a couple of probates where the decedent died midsummer and their investment portfolios are now down around 5% due to the market's current conniptions. What's the best practice in this circumstance, in advising a PR?

My current thought is: A fiduciary's prudent-investor and diversification standard doesn't apply to assets received in-kind from the decedent, per RCW 11.100.060<https://app.leg.wa.gov/RCW/default.aspx?cite=11.100&full=true#11.100.060>, so PR shouldn't be liable for losses. But is there a point where it's clear that the investments are a trainwreck and the PR then has a duty to liquidate in order to prevent further losses and stabilize the value? Should the PR get advice from the decedent's broker, or is that even helpful?

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

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