Trust Protector Services
What Is A Trust Protector?
Trusts are an essential part of estate planning. Trusts are an ancient concept that originated in the Old World as a business entity. Trusts predate and eventually evolved into corporations, partnerships, and limited liability companies. Trusts are commonly used by individuals of all income and asset levels (not just the wealthy) to achieve a great number of objectives. A Trust can be a highly complex document, so it is wise to seek legal counsel from an experienced Louisiana trust attorney.
Trust Protector Services
A Trust Protector’s role typically relates to four primary areas of concern:
- Changes in law affecting administration of the trust;
- Income and estate tax issues affecting settlors or beneficiaries;
- Asset protection for beneficiaries; and
- Trustee misconduct or mismanagement
A Trust Protector does not typically monitor the activities of the trust or trustee, but is called upon when circumstances warrant to exercise certain powers as needed. Trust Protector powers may include the following as appropriate for the circumstances:
- Power to remove and replace trustees;
- Power to correct scrivener errors and ambiguities;
- Power to amend administrative provisions of a trust;
- Power to request accountings;
- Power to mediate disputes between trustees and beneficiaries;
- Power to change situs and governing law; or
- Power to veto distributions.
Theus Law Offices provides trust protector services for domestic and off-shore trusts through Trust Protector Services, L.L.C., an Alaska limited liability company.
To learn more about Trust Protector Services, please visit www.trustprotectorservices.net.
Other Useful Articles on Trust Protectors in Louisiana
- The Case for The Trust Protector in Louisiana
- Will Your Estate Benefit from a Trust Protector?
- Protect Your Peace of Mind with a Trust Protector
Protecting Everything You Own and Everyone You Love…
Trust Protectors can be used for existing trusts that include proper provisions for a Trust Protector. Alternatively, it may be possible to reform an existing trust, or decant such a trust into a new trust with suitable provisions for a Trust Protector. We can provide comprehensive, experienced trust protector services – and do so for many of our estate planning clients. If you have questions about Trust Protectors or Trust Advisors, or any other estate planning topics, please contact our office to schedule a free consultation, or use the link below to schedule your Free 15-Minute Call with an experienced Estate Planning Attorney.
J. Graves Theus, Jr. is the founding member of Theus Law Offices, and a fourth generation Louisiana lawyer with deep roots in the community. He received an LL.M. in Tax Law from Boston University School of Law in 1997, after graduating, cum laude, from Gonzaga University School of Law in 1996. Graves is licened to practice law in three states: Louisiana, Washington, and Alaska (a domestic asset protection jurisdiction). He is certified by the Louisiana State Board of Legal Specialization as a Specialist in Tax Law, as well as Estate Planning and Administration, and is an approved title agent. Graves is also accredited by the Veterans Administration to assist veterans with their pension claims.