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The Process of a Fiduciary's Decision Is Often a Determinant of Prudence
Holland & Knight 
May 27, 2015
"Often times, whether a fiduciary has breached his or her duty is not determined by the outcome of a decision but the process that went into the decision, and whether the process demonstrated prudence. Many cases hinge on the following three simple questions: [1] Did the fiduciary take reasonable measures to stay informed? [2] Did the fiduciary give due consideration to the issue? [3] Did the fiduciary consult an expert when appropriate to do so? Whether a fiduciary should or should not have acted can always be debated but a lack of process leading up to an act or omission is often fatal to the defense in a breach of fiduciary duty case."
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