881.016 Employees and agents of a fiduciary.
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881.016 Employees and agents of a fiduciary. Unless prohibited by the terms of the instrument governing a fiduciary relationship, a fiduciary may employ attorneys, accountants, investment advisers, agents or other persons, even if they are associated with the fiduciary, to advise or assist the fiduciary in the performance of the fiduciary’s duties. The fiduciary may act without independent investigation upon their recommendations or, instead of acting directly, employ one or more agents to perform any act of administration, whether or not discretionary.
If the terms of the governing instrument do not address the authority of the fiduciary to delegate the fiduciary’s duties, all of the following apply:
(1)The fiduciary may delegate some, but not all, of the fiduciary’s duties to an agent.
(2)The employment of an agent by the fiduciary does not relieve the fiduciary of liability for acts of the agent that, if done by the fiduciary, would result in the liability of the fiduciary.
(3)The employment of an agent by a fiduciary does not relieve the fiduciary of the fiduciary’s duty to use reasonable care in selecting and retaining the agent.