“A fiduciary has a duty to invest and manage investment assets as a prudent investor would considering the purposes, terms, distribution requirements, and other circumstances of the trust.” Fla. Stat. 518.11 But, “Florida law does not make a faithful fiduciary an insurer against an unforeseeable drop in the stock market.” See Fulton v. First National Bank of Fort Myers, 290 So.2d 498 (Fla. 2d DCA 1974)

Surcharge is the dreaded word for any fiduciary but is the sure result if the trustee fails to take the proper standard of care contained in Chapter 518, Fla. Statutes, Florida’s Prudent Investor Rule. Personal representatives and trustees are both held to the same standard of care as specified in Fla. Stat. 733.602(1), 733.609(1) and 736.0804. Personal representatives and trustees must both make prudent investment decisions and employ prudent investment strategies. See statutes 733.612(4), 733.0901 and 518.10.