Using Trust Protectors

In the governance of a trust, a trust protector can play a valuable role. A trust protector traditionally supervises a trustee. A trust protector simultaneously may help to ensure that the settlor’s intent or the trust’s purposes are being fulfilled. TRUST PROTECTOR POWERS A trust protector’s role is defined by the terms of the trust. Unlike a trustee, a trust protector does not have any statutory powers. In the traditional model of a trust protector, the trust protector supervises the trustee. In that model, a trust protector functions like a company’s board of directors, and the trustee functions like the company’s management. Accordingly, a trust protector’s powers often include the following powers: Power to remove a trustee Power to appoint a trustee In some instances, a trust protector may have…

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The Advantages of Revocable Trusts

When considering the employment of trusts in an estate plan, strategies are often selected because of the tax savings or tax efficiencies that can be garnered. Revocable trusts are a glaring exception to this rule. There are no tax savings to be gained by creating and funding a revocable trust, nor any asset protections provided to its settlor. Rather, this type of trust is used to provide substantial, non-tax benefits to the settlor including continuity, flexibility, and privacy. REVOCABLE TRUST STRUCTURE A revocable trust is created by an individual (settlor) to hold property during their lifetime. Typically, the trust will provide that the trust property be managed for the settlor’s benefit. In many cases, the settlor will also serve as a trustee or co-trustee of the revocable trust during their…

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The Book: New Hampshire Trust Laws

New Hampshire Trust Laws: Statutes and Commentary (Second Edition) New Hampshire’s modern trust laws promote innovative trust design and efficient trust administration. Those laws have made New Hampshire one of the most attractive jurisdictions in which to create and administer trusts. Written by a trust attorney involved in developing those laws, New Hampshire Trust Laws is a practical reference that combines the statutes with commentary and historical background. Praise for New Hampshire Trust Laws: Statutes and Commentary “More than a compilation of state trust statutes, New Hampshire Trust Laws provides historical context, insightful commentary, and a clear and readable discussion of New Hampshire’s evolving fiduciary landscape. The book is an excellent tool for any practitioner who performs trust planning with New Hampshire trusts.” —Joseph P. Toce, Jr., Managing Director, Andersen…

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