Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

A Member of the Law Professor Blogs Network

Friday, November 1, 2013

Who Should Monitor the Trustee?

Trust fidThe use of Trust Protectors is a new tool for domestic estate planners. Now, Trust Protector’s provide more oversight over the trustee actions. Trust Protectors can prevent self-dealing and incompetence. 

However, Forbes contributor, Jay Adkisson, does not believe that Trust Protectors should be managing the fiduciary activities of the trustee. He explains the role of monitoring the trustee belongs to the co- trustees or the beneficiaries. Then those individuals can bring their complaints to the Trust Protector who can remove the trustee.

See Jay Adkisson, A Critique of the Trust Protector as a Fiduciary, Wealth Strategies,  Oct. 30, 2013.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/11/who-should-monitor-the-trustee-.html

Estate Planning - Generally, Professional Responsibility, Trusts | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef019b00843825970c

Listed below are links to weblogs that reference Who Should Monitor the Trustee? :

Comments

Post a comment