What is a trust protector?

A trust protector is an individual or institution appointed to oversee the management and performance of a trust. This position is not commonly found in every trust, but when appointed, the trust protector is given the authority to monitor the trustee’s activities and ensure that the trustee is meeting the fiduciary duties set forth in the trust. In Maryland Trust law, the trust protector’s responsibilities are generally limited to making sure that the trustee is following the terms of the trust. A trust protector generally has the authority to remove a trustee, modify or terminate a trust, approve distributions, and monitor investments. The trust protector can also take legal action against the trustee if they fail to meet their duties. They can also hire and fire lawyers and other advisors in order to protect the trust. The trust protector is not a fiduciary, meaning they are not obligated to act in the best interest of the trust’s beneficiaries. The trust protector is typically appointed by the grantor, the person setting up the trust, and their powers and responsibilities are defined by the trust document. It is important to include a trust protector in any trust in order to ensure that it is executed properly.

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What is a trust protector?

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