What is a trust protector?

A trust protector is a person who is appointed by the settlor of a trust to carry out a specific duty or powers in order to protect the trust from making decisions that may be contrary to the goals set forth by the settlor. In Washington, a trust protector can be appointed when the trust is created, or after the trust has been established. The trust protector is typically a third party, and their responsibilities can range from overseeing the performance of trustees and ensuring that the trust administration is being managed properly, to monitoring investments and making sure that trust assets are properly managed and distributed. The trust protector can also have powers to amend, modify, and terminate the trust. They may also be able to veto certain decisions or take corrective action when necessary. It’s important to note that a trust protector doesn’t actually manage the trust assets, they are just an additional layer of protection and oversight in conjunction with the settlor and the trustee.

Related FAQs

What is a health care directive?
What is a power of attorney?
What is a trust protector?
What is a living probate?
How can I ensure my elderly parent is not being taken advantage of?
What are the benefits of setting up a trust?
What is a trust administration?
What is a health care power of attorney?
What are the legal rights of the elderly?
What is the best way to protect my elderly parent’s assets?

What is a trust protector?

Related FAQs

Related Blog Posts