Trust protectors are commonly used in Texas. Essentially, a trust protector is someone who serves as an appointed authority over a trust that will be in effect for an extended period of time. Trust protectors help you ensure that trustees maintain the integrity of the trust, make solid distribution and investment decisions, and adapt the trust to changes in law and circumstance.
Whenever changes occur, as they are bound to do, the trust protector can modify the trust to carry out the trustmaker’s intent. Significantly, the trust protector can act without going to court—a critical benefit that saves time and money and honors family privacy.
Your trust protector can help you ensure your trust works the way you envision by taking the following actions:
The key to empowering a trust protector to help you ensure your trust effectuates your intentions is to be very specific about the powers available to that person. It is essential to authorize that person and any future trust protectors to fulfill their duty to carry out the trustmaker’s intent—not their own.
Generally speaking, the answer is yes. Trust protectors provide flexibility and an extra layer of protection for the trustmaker’s intent and the trust’s accounts, property, and beneficiaries. Trust protector provisions can easily be added to a new trust and older trusts may be changed to add a trust protector. If you have created a trust or are a beneficiary of a trust that feels outdated, Book a Call.
(By Appointment Only)
14425 Falcon Head Blvd
Bldg E-100
Austin, TX 78738