What is a trust protector and what does it do?

A trust protector is an individual who is appointed to oversee a trust agreement in New York. When someone creates a trust they may choose a trustee to handle the trust assets, and a trust protector to oversee and monitor the trustee’s actions. The trust protector is responsible for reviewing the trustee’s decisions to ensure that they are in line with the trust agreement. The role of the trust protector is to act as a check and balance between the trustor and the trustee. They serve as a referee to ensure that the trust is being managed and administered according to the trust documents. The trust protector can approve or veto trustee decisions and can also appoint or remove trustees as needed. Trust protectors can also make changes to the trust agreement if necessary. For example, if there are changes in the law or the trustor’s circumstances, the trust protector can modify the trust terms to ensure the trust is managed in accordance with the trustor’s wishes. Choosing the right trust protector is important, as their role is to protect the trust assets and the trustor’s interests. The trust protector should be someone with knowledge and experience in estate planning law who can be trusted to act in the best interest of the trustor. They can also help to make sure that the trustee is following the trust agreement and managing the trust assets properly.

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What is a trust protector and what does it do?

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