What is a trust protector?

A trust protector is a person or group of people appointed by the trustee to oversee the trust. The protector is usually someone who is not directly involved in the trust, such as a lawyer, accountant, or financial adviser. The trust protector is responsible for making sure the trust is managed properly and that the wishes of the grantor, or creator of the trust, are followed. In Minnesota, the trust protector may be given the power to appoint and remove trustees, to modify terms of the trust, or to remove or add beneficiaries. The trust protector may also be given the power to approve or disapprove investments or distributions made by the trustee. The trust protector is accountable to the beneficiaries of the trust and can be held responsible for any misuse or mismanagement of the trust.

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What is a trust protector?

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