Mark Glendon

3 Reasons You Should Have a Trust Protector

Putting a trust in place is one of the best ways to protect your assets upon your passing or if you become incapacitated, but if you don't have a trust protector, also known as a trust advisor, named to oversee the terms of your arrangement, your legacy and assets could be in jeopardy. A trust advisor or protector is usually an attorney appointed to make sure the trust terms are executed according to your wishes and the law. This person is not, however, a trustee. Secure your future with trust protector - visit this website for peace of mind!

If you're concerned about the integrity of your trust or would like to ensure the terms of your trust are upheld when you are unable to oversee things, below are three reasons you need to have a protector for your trust:

1. Changes Over Time

When you put your trust in place, you may have had a good idea as to how things would play out. Unfortunately, laws change, families change and circumstances change. If you become incapacitated and inheritance laws change, you need someone to protect your trust terms. A trust advisor or protector can handle this for you.

This can also be advantageous if you are unable to replace a trustee who is not fulfilling their duties. When you are incapacitated, your trust advisor can step in to handle these actions.

2. A Trust Advisor or Protector Can Intercede in Legal Matters

Legal matters involving a trust can be complicated. These matters are made even more complicated if you aren't around to step in and take over when problems arise. With a trust advisor or protector in place, this person can intercede and potentially keep the matter out of court. This all depends on the person's role and responsibilities, but most attorneys can offer legal guidance when serving as trust advisors.

3. You Can Appoint a Trust Advisor Later

In many cases, you can include a provision in your trust documents that allows for the appointment of a trust advisor in the future. This can be a good thing for people who don't yet know that they want a protector but may need one in the future.

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Mark writes often about estate planning. His articles may include topics like real estate closing attorney and business succession laws to help the people in needs. You can find his thoughts at estate planning services blog.