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TRUST PROTECTOR SERVICES

A Trust Protector can avoid expensive and time-consuming court proceedings and provide greater flexibility in overseeing the actions of a trustee and accommodating unforeseeable liabilities, changes in law or circumstances of a beneficiary.


A Trust Protector’s role typically relates to four primary areas of concern:


  • Changes in law affecting administration of the trust;
  • Income and estate tax issues affecting settlors or beneficiaries;
  • Asset protection for beneficiaries; and
  • Trustee misconduct or mismanagement.


A Trust Protector does not typically monitor the activities of the trust or trustee, but is called upon when circumstances warrant to exercise certain powers as needed.  Trust Protector powers may include the following as appropriate for the circumstances:


  • Power to remove and replace trustees;
  • Power to correct scrivener errors and ambiguities;
  • Power to amend administrative provisions of a trust;
  • Power to request accountings;
  • Power to mediate disputes between trustees and beneficiaries;
  • Power to change situs and governing law; or
  • Power to veto distributions.


Trust Protectors can be used for existing trusts that include proper provisions for a Trust Protector.  Alternatively, it may be possible to reform an existing trust, or decant such a trust into a new trust with suitable provisions for a Trust Protector.  


Contact us to learn more about naming Trust Protector Services, LLC as your trust protector.  

 

Trust Protector Services