What is a trust protector and how does it work?

A trust protector is a person or entity with the power to make decisions regarding a trust that is established in a trust document. A trust protector has the authority to make changes to the trust document, remove trustees, and make sure that the trust is being managed according to the wishes of the trust creator. In Maryland, a trust protector is generally appointed by the trust creator and can be an individual or a corporate entity. The trust protector has the power to make changes to the trust document, including changing the beneficiaries and adding or removing trustees. The trust protector is also responsible for monitoring the activities of the trustee, and ensuring that the trust is being managed in accordance with the wishes of the trust creator. A trust protector may also have the authority to approve distributions from the trust, and to approve investments and other decisions made by the trustee. The trust protector is also responsible for reviewing the trustee’s reports and making sure that all of the trust assets are properly managed. The trust protector is a powerful tool that can help to protect the trust assets from misuse or improper management. It provides the trust creator with peace of mind that their wishes are being respected and followed, and that their trust assets will be managed in the best interests of the beneficiaries.

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What is a trust protector and how does it work?

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