Trust protectors – formerly used by the 1% are now more frequently being used by the 99%. A trust protector is someone who is appointed to watch over a trust that will be in effect for a long time and ensure that it is not adversely affected by any changes in the law or circumstances. Trust protectors are helpful if you believe there may be conflict among the beneficiaries and the trustee.
Services for Trusted Advisors
Trust Protector Services
(Hourly Rates Apply)
There are a number of reasons for appointing a trust protector. Trust protectors are named in the trust documents and are generally granted specific powers. Here are some powers that a trust protector may be given:
- Remove and replace a trustee;
- Allow new beneficiaries to be added if there are additional descendants; and
- Review accounts, review investment performance, veto investment decisions
Technically, anyone can serve as a trust protector; however, it is a good idea to appoint an independent third party rather than a family member or a beneficiary. A lawyer or accountant may be a good choice.
Why Me?
In addition to my law degree, I also have an MBA from Suffolk University and 20-years’ experience at financial services firms such as Fidelity Investments and Citi. I know my way around a prospectus, investment report, financial statement, and accountings, as well as the trust itself. I am also a trained mediator and have mediated small claims matters in Boston’s Municipal Courts.
Please reach out if you are interested in speaking with me about having me serve as a Trust Protector.
Estate Plan Document Review
(Hourly Rates Apply)
- “Is this a Special Needs Trust?”
- “My client is divorcing, what can we do with this Life Insurance Trust?”
- “Is this document out of date, now insufficient for its purposes?”
I am happy to review your client’s document(s) and report back on its sufficiency or relevance.
Trust or Estate Accountings
(Hourly Rates Apply)
K. Reilly Law offers a la carte assistance in the preparation of accountings for both estate and trust administration purposes.