When setting up a trust, many people focus on choosing the right trustee and outlining clear instructions for how assets should be managed and distributed. But one important role that’s often overlooked is the trust protector. Depending on your goals, naming a trust protector can provide long-term flexibility and protection for your trust.
What is a Trust Protector?
A trust protector is an independent third party—someone who is not the trustee or a beneficiary—who is given specific powers to oversee and adjust the trust if needed. This role was originally designed for international or complex trusts but is now used more broadly in domestic estate planning.
When Should You Use a Trust Protector?
A trust protector can be especially useful in long-term or irrevocable trusts, where circumstances may change over time. For example, if tax laws shift, family dynamics evolve, or the trustee is no longer able to serve, the trust protector can step in to make appropriate changes without needing to go to court.
What Powers Does a Trust Protector Have?
The powers of a trust protector are tailored to your trust, but they may include:
- Removing or replacing a trustee
- Resolving disputes among trustees or beneficiaries
- Amending the trust for changes in law or unforeseen circumstances
- Approving distributions in unusual situations
How Does a Trust Protector Safeguard Your Trust?
By acting as a neutral party, a trust protector can ensure that your original intentions are honored—even as life and laws change. They add a layer of oversight and flexibility, helping your trust adapt over time without sacrificing control or incurring unnecessary legal costs.
Is a Trust Protector Right for You?
Naming a trust protector isn’t always necessary, but for long-term or complex trusts, it can offer valuable oversight and added peace of mind. At Roth Elder Law, we can help you decide whether including a trust protector aligns with your estate planning goals. Call us today at 607-962-6162 or fill out our online form to schedule a consultation.