Who Should Monitor the Trustee?

The use of Trust Protectors is a new tool for domestic estateplanners. Now, Trust Protector’s provide more oversight over the trusteeactions. Trust Protectors can prevent self-dealing and incompetence. 

However, Forbes contributor, Jay Adkisson, does not believethat Trust Protectors should be managing the fiduciary activities of thetrustee. He explains the role of monitoring the trustee belongs to the co-trustees or the beneficiaries. Then those individuals can bring theircomplaints 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.