Under the Mississippi prudent inventor act, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule (PIR).  However, the prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust.  Also, a trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.

Under the PIR, the trustee must use reasonable care,skill and caution making investment decisions.

If the named trustee has special skills and experience in investing and managing assets, he or she will be held to those special skills.