More on Drafting for Trust Flexibility: Trust Protectors

iStock_000012218828SmallTrust Protectors may be used to provide flexibility in the administration of the Trust. A Trust Protector is an individual or family member who might be utilized to make certain decisions for the Trustee, or to provide direction to the Trustee. The Trust Protector is not an actual Trustee. The Trust Protector could remove and replace the professional Trustee, thereby having an impact on distribution decisions.

In addition to removal and appointment of Trustees, the Trust Protector could also be given the power to amend the Trust for law changes, to change administrative provisions, to change the powers of the Trustee, to change the situs of the Trust, and to potentially change the beneficial interests provided by the Trust. For instance, a special power of appointment could be changed into a general power of appointment, or vice versa.

The Trust should state what duties the Trust Protector owes and to whom these duties are owed, and to what extent the Trust Protector can be absolved of liability for actions or failure to act. Duck


About Janet Moore

Janet has been with the firm since 1980 and is a partner in the Trusts and Estates Group. She focuses her practice in estate planning and estate and trust administration, including all areas of estate and gift tax planning, ranging from testamentary estate planning (including wills, trusts, durable powers of attorney, health care proxies and living wills) to sophisticated lifetime gifting techniques, such as irrevocable life insurance trusts, lifetime marital (QTIP) trusts, spousal lifetime access trusts (SLATs), charitable trusts, grantor retained annuity trusts (GRATs), intentionally defective grantor trusts, family limited liability companies, and qualified personal residence trusts (QPRTs). Janet also advises clients in prenuptial agreements, elder law and planning for special needs, guardianships and probate law, homestead declarations, charitable giving techniques, business succession planning, and asset protection planning. She also handles estate settlement and administration and trust administration and prepares gift tax returns, as well as estate tax returns and fiduciary income tax returns for estates and trusts. Janet is compassionate and easy to talk with and to understand, which contributes to her ability to work well with and relate to individuals and families, young and old.
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