Mass. Gen. Laws ch. 203C § 2 : REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS — DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS — PRUDENT INVESTMENT — Trustees managing trust assets; duty to comply with prudent investor rule
(a) Except as provided in subsection (b), a trustee who invests and manages trust assets shall owe a duty to the beneficiaries of a trust to comply with the prudent investor rule set forth in this chapter.
(b) The prudent investor rule may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust. A trustee shall not be liable to a beneficiary to the extent that the trustee acted in resonable reliance on the provisions of the trust.