Associated Services

Trust Protectors  

Trust Protectors serve as independent third-party appointees to oversee administration of trusts and ensure that grantor's intentions are fufilled, particularly when unanticipated and unexpected situations and conditions emerge.

Benefits Associated with Trust Protectors:

Flexibility and Adaptation: Trusts, particularly irrevocable ones, can be difficult to modify. A trust protector can be granted powers to amend the trust to address changing family situations, legal updates, or the grantor's evolving wishes, potentially avoiding costly court proceedings.

Oversight of Trustees: A trust protector can monitor the trustee's actions, ensuring they are managing the trust prudently and in accordance with the grantor's intent. They can even remove and replace a trustee who is not performing their duties adequately.

Beneficiary Protection: A trust protector can safeguard the interests of beneficiaries, especially in cases where a beneficiary may have special needs or be unable to manage their own affairs.

Dispute Resolution: A trust protector can act as a mediator to resolve disputes between trustees and beneficiaries, potentially preventing litigation.

Asset Protection: In some cases, a trust protector can help protect trust assets from creditors or other risks. Who Can Serve as a Trust Protector? While anyone can technically serve as a trust protector, they should be: Independent: Not a beneficiary, trustee, or grantor of the trust.

Competent: Able to understand and fulfill the duties of a trust protector.

Trustworthy: Someone the grantor can rely on to act in good faith. Examples of Trust Protector

Services: Reviewing trust documents: Ensuring the trust accurately reflects the grantor's wishes and complies with relevant laws.

Monitoring trustee performance: Reviewing accountings and other reports to ensure the trustee is fulfilling their fiduciary duties.

Amending the trust: Making necessary changes to the trust terms as needed.

Removing and replacing trustees: If a trustee is not acting in the best interests of the beneficiaries.

Resolving disputes: Mediating disagreements between trustees and beneficiaries.