What is a trust protector?
A trust protector is an individual or corporate entity appointed to protect the trust and its beneficiaries. In Alaska, trust protectors are typically appointed to monitor the trustee’s performance and enforce the terms of the trust. The trust protector’s responsibilities can include overseeing the investments of the trust assets, ensuring proper tax filing, making sure payments are made on time, and acting as a buffer between the trust and any legal disputes. Trust protectors can also address beneficiary concerns, such as when the trust is no longer meeting the needs of current beneficiaries, and may even be tasked with removing and replacing the trustee. Ultimately, the role of the trust protector is to ensure the trust is in compliance with the trust agreement and that the wishes of the grantor continue to be honored.
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