Estate Planning: Make Sure You Have a Trust Protector

Appointing a trustee is an important evaluation that should involve careful consideration of a person’s ability to help serve in this role. If a trustee eventually proves poor at his or her job or they pass away, a trust protector may aid with flexibility and control. A trust protector can be seen as like a police officer who can write out tickets. 

The protector role can even be customized functioning from everything from an advisor to the trustee to someone who monitors actions and could eventually remove a trustee who is no longer the right fit for the job. The trust protector is a perfect fit for the irrevocable trust where the creator has no control. The protector can add beneficiaries, manage a special needs child over the long-term, and monitor estate law changes so as to maximize tax savings and income.