trust protector

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A trust protector is a role with specific duties that is assigned by the trust document in order to fulfill the purpose of the trust. In the Uniform Trust Code Section 808, the trust protector is defined as “a person other than the trustee or beneficiary who holds power over some aspect of a trust.” Not all the states have adopted the Uniform Trust Code, so a trust protector is not deemed to serve in a fiduciary capacity. However, under Delaware law, the trust protector is commonly a fiduciary. The trust protector also has a lot of power; like the power to remove or appoint trustees and advisors, and the power to modify or amend the governing instrument of the trust, etc., see DGCL Title 12, Chapter 33, Section 3313(f).

[Last updated in April of 2022 by the Wex Definitions Team]