Trust protectors are a result of evolving new developments in the trust industry. The role of a trust protector is still relatively new in modern day trusts. A big difference with a trust protector and a trustee is that a trust protectors’ role might not be specifically defined. Therefore, trust protectors are granted a wide variety of authority over the trust assets. With this power, the question arises if the trust protector is acting in a fiduciary capacity? The short answer, maybe. This depends on the trust and the state law.
Trustees have an array of responsibility when executing an Irrevocable Life Insurance Trust (ILIT). Knowing how to choose the right Trustee to manage the ILIT will save a lot of...
Thanksgiving is one of the best holidays of the year. It is a time for families to gather for a hefty meal and look back on all the things they have been thankful for. It is als...