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Law & Legal
  1. How to Qualify for a Medicaid Waiver
  2. Six Reasons Someone May Be Placed Under a Guardianship
  3. What Can Be Included in a Will?
  4. How Much Should You Put as a Down Payment on a House?
  5. 3 Assets That Can Fund a Trust
  6. Why You Should Have a Life Insurance Policy
  7. Is Real Estate a Good Financial Investment?
  8. S-Corp vs. C-Corp
  9. 5 Reasons Someone Might Disinherit a Child
  10. Benefits of a Testamentary Trust
  11. Steps on How to Sign Up for Life Insurance
  12. What is the Estate Administration Process?
  13. What Types of Government Benefits are Available for the Elderly?
  14. What is the Job of an Executor?
  15. What is a Simple Estate Plan?
  16. Why You Should Have a Will
  17. 3 Things You Need to Prepare Your Taxes
  18. Tips for Planning an Estate
  19. What is Electronic Notarization?
  20. Are There Requirements to Qualify for Medicaid Home Care?
  21. 3 Benefits of Tax Planning
  22. 3 Things to Know About Retirement Planning
  23. How Does Mental Illness Impact Your Estate Planning Process?
  24. What is a Lawsuit for Wrongful Death?
  25. What is The Tax Code?
  26. Guide to Become a Tax Advisor
  27. Does My Parents' Divorcing Impact My Inheritance?
  28. Guide to Understand When You Should and Shouldn't Buy a Home
  29. 3 Things a CPA Can Help With
  30. Tips to Maximize Your Tax Refund
  31. 3 Reasons You Should Have a Tax Accountant on Retainer
  32. Do Self-Employed Individuals Get Taxed Differently?
  33. What are Unclaimed Funds?
  34. 4 Things to Know About Surrogate's Court
  35. 3 Reasons Having Advance Directives is Important
  36. What are Estate Taxes?
  37. What is The Estate-Tax Exemption?
  38. Who Has to File Taxes?
  39. 3 Reasons You Should Have a Trust Protector
  40. Understanding Spousal Impoverishment
  41. Who Files Taxes For Businesses?
  42. Should I File My Taxes Using Turbo Tax?
  43. 3 Ways to Protect Against Financial Exploitation
  44. Who Qualifies for a Special Needs Trust?
  45. Guide on How to Write Off Business Expenses When Doing Your Taxes
  46. 3 Things Every Small Business Should Know
  47. Why Updating Your Will is Important
  48. What is the Probate Journey?
  49. What Happens if I Don't File My Taxes?
  50. Tax Accountant vs CPA
3 Reasons You Should Have a Trust Protector {{ currentPage ? currentPage.title : "" }}

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.

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.

Author Resource:-

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.

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