Document Type

Article

Publication Title

NYSBA Trust and Estates Law Section Newsletter

Publication Date

2013

Abstract

Much has been written recently about the use of trust protectors. Broadly defined, a trust protector is a person appointed by the settlor to direct the actions of the trustee with respect to specified functions. For example, a settlor might provide in the trust instrument that the trustee must follow the directions of a trust protector regarding investments. The treatment of trust protectors and trustees who follow directions provided by the trust protector is the subject of statutes in some states and may be addressed in case law in other states. The Uniform Trust Code deals with what it calls "directed trusts" in section 808.

A critical question about the treatment of trust protectors is whether the protector is subject to a fiduciary duty.

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