Article On Utilizing And Drafting Powers For Trustees, Trustee Advisors, And Trust Protectors

Shyla R. Buckner and Michelle Rosenblatt (Texas Tech University School of Law) recently published an article entitled, A Rose By Any Other Name: Utilizing and Drafting Powers For Trustees, Trustee Advisors, And Trust Protectors, Texas Tech University School of Law, Estate Planning & Community Property Law Journal, Vol. 8 Book 1, Fall (2015). Provided below is an abstract of the article:

    When designing trusts these days, practitioners often use such titles as “Trustee Advisor,” “Trust Consultant,” “Trust Committee,” and “Trust Protector,” and the terms are becoming more familiar to clients.  Many clients request—or their situations warrant—a division of authority between fiduciaries.  At other times, an unusual power is sought to go to the sole fiduciary.  Whatever the reason, the trend is to share and divide the trust administration and corresponding duties in various ways among co-trustees, directed trustees, special trustees, and protectors.