Trust Protectors: Why They Have Become 'The Next Big Thing'
43 Pages Posted: 11 Mar 2016
Date Written: December 1, 2015
Settlors are increasingly naming trust protectors, particularly for trusts that may endure for many years, because of the possible need to amend the trust in light of changing laws and changing circumstances. Trust protectors have also become popular for trusts with beneficiaries who have an intellectual disability that may prevent them from enforcing their beneficial interest in the trust. The selection of a protector, the powers to be granted the protector and the standard of care required of the protector require thoughtful consideration. This Article also discusses the origin of trust protectors, their current statutory basis, and the few existing cases that analyze the legal status and role of a trust protector.
Keywords: trusts, trust protector, trustee, powers, Uniform Trust Code, duties, standard of duty, statutory interpretation, state protector statutes, estates, fiduciary
JEL Classification: K11, K39
Suggested Citation: Suggested Citation