Exposing the Trust ProtectorExposing the Trust Protector
Why she shouldn’t be totally exculpated from liability
There’s little question about the newfound popularity of trust protectors, which they’re undoubtedly enjoying. And why not? They’re entitled to a fee for “services,” even when none are required, and it’s common practice to absolve them from any liability for acting or not acting, regardless of the circumstances. At least that’s what many of the relevant statutes and most trust documents say when protectors are named in lawsuits. Is it that simple?
Blanket Exculpation
As many of us are aware, a trust protector can be extremely important in the administration of a trust, allowing for trust amendments, situs change and trustee replacement, all without the need for court proceedings or beneficiary consent.1 But the decision to perform any of...
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