What is a trust protector and what does it do?

A trust protector is an individual or an entity appointed to a trust who is responsible for overseeing and monitoring the trust’s terms and administration. In West Virginia, a trust protector is appointed by the trustmaker, and will act on behalf of the beneficiaries of the trust. The role of the trust protector is to make sure that the trust is being managed and administered according to the trustmaker’s wishes. For example, if the trustmaker specified certain investments that must be made, the trust protector would ensure that these investments are maintained. Additionally, the trust protector serves as a “check-and-balance” system by making sure that the trustee or other fiduciaries of the trust are following the trustmaker’s instructions and not abusing their authority. In some cases, the trust protector may also have the power to modify or amend the terms of the trust. This could include changing the beneficiaries of the trust, revoking the trust, or appointing a new trustee. As such, the trust protector plays an important role in the trust administration process and can help to protect the trustmaker’s intent and wishes.

Related FAQs

What is a trust account and how does it work?
What tools are available to help me plan my estate?
How should I choose an executor for my will?
What is a durable power of attorney?
What happens if I move to another state while my estate is still in the process of being settled?
What should I do if I find a mistake in my estate documents?
What is a generation skipping trust and how does it work?
What is a durable power of attorney?
How do I register my estate plan with the appropriate court or office?
What is a disclaimer and how does it work?

What is a trust protector and what does it do?

Related FAQs

Related Blog Posts