Preservation | Family Wealth Protection & Planning


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Posts in Trust Protector.
By Lauren Surdyke on May 18, 2023 at 12:00 PM

Protecting moneyMaking changes to an irrevocable trust can be difficult. Even minor or administrative changes can require court approval and consent of all beneficiaries to the trust. Many states, including Missouri and Illinois, have addressed this by codifying a new role for trusts known as a “trust protector.”

What is a Trust Protector?

A trust protector is a third party with certain powers over a trust to ensure that the grantor’s wishes are effectively carried out. Generally, it is advisable that the trust protector be someone independent from the grantor and beneficiaries.

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July 30, 2018 at 10:10 AM

Hands protecting a drawing of money on a chalkboard, with a bunch of chalk question marks surrounding itMany people who create irrevocable trusts are uncomfortable giving up control of their assets to a trustee, especially a corporate trustee. Even if the trustee is a trusted individual, it is increasingly likely that the trust could last for many years. As a result, the trustee may experience changes in the law that could negatively impact carrying out the settlor’s intent. The following Q&A addresses ways to mitigate concern with a long-lasting irrevocable trust by using a trust protector.

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