What is a trust protector?
A trust protector is an individual that is named in the trust document to oversee the activities of the trustee and protect the interests of the beneficiaries. In West Virginia, a trust protector is appointed by the settlor, or the person who creates the trust, and has certain powers over the trustee, such as the power to replace the trustee or remove them from office. They also have the power to modify and amend the trust agreement, and may have a say in investment decisions if they choose to exercise their rights. Trust protectors may also be responsible for approving distributions from the trust as well as any changes to the trust. In some cases, the trust protector may serve as an intermediary between the trustee and the beneficiaries to help resolve any disputes. The role of a trust protector is an important one, and should be filled by an individual who is knowledgeable and experienced in trusts law. In West Virginia, the trust protector must be appointed in the trust document, and must not be a beneficiary of the trust. This is to ensure that the interests of the beneficiaries are protected and that the trustee is held accountable for any decisions they make.
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