Estate Planning: Make Sure You Have a Trust Protector

Appointing a trustee is an important evaluation that should involve careful consideration of a person’s ability to help serve in this role. If a trustee eventually proves poor at his or her job or they pass away, a trust protector may aid with flexibility and control. A trust protector can be seen as like a police officer who can write out tickets. shutterstock_245739646

The protector role can even be customized functioning from everything from an advisor to the trustee to someone who monitors actions and could eventually remove a trustee who is no longer the right fit for the job. The trust protector is a perfect fit for the irrevocable trust where the creator has no control. The protector can add beneficiaries, manage a special needs child over the long-term, and monitor estate law changes so as to maximize tax savings and income.

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