A trust protector is tasked with the job of overseeing a trustee and ensuring that the trust’s purposes are fulfilled. The trust protector’s powers, which are set out in the document that creates the trust, may include helping the trustee with legal, investment and tax matters. The trust protector may have authority to settle disputes among trustees and beneficiaries and to appoint a new trustee if the original one isn’t following the terms of the trust or getting along with the beneficiaries.

Including a trust protector in a trust generally provides greater flexibility to accommodate changes in beneficiary circumstances, the law and to oversee the actions of the trustee. Perhaps more importantly, a trust protector can avoid public disclosure of the trust and its assets by avoiding expensive court proceedings and any attendant publicity.

The Trust Protector may be given authority to:

• Make tax decisions that if made by a related or subordinate trustee would jeopardize the tax status of the trust.
• Act as an intermediary between the trustee and the beneficiaries when the beneficiaries have concerns or complaints about the trustee’s actions or inaction.
• Remove and replace the Trustee when the settlor cannot for tax reasons and/or the beneficiaries would need a court order.
• Amend the trust to reflect tax or legal changes, clarify ambiguities or correct scrivener’s errors or omissions.
• Resolve disputes between co-trustees.
• Review the administration of the trust, including the cost.

With a combined 75 years of experience, Trust Protector Partners (TPP) is a company dedicated to providing the highest quality
of service as a Trust Protector at a reasonable cost. The principals of TPP have extensive experience in the administration
of trusts and mediation of trust disputes. In addition, TPP offers various levels of service to ensure that the goals
of those establishing the trust are achieved and the trustee and beneficiaries protected.

Bronze Level:

TPP does not perform any work relating to getting a court order to have TPP named as the Trust Protector.

TPP consents to being named as the Trust Protector in the trust, obtains a copy of the trust and collects contact information for the trustee and each beneficiary. This information is maintained in TPP’s database. No annual follow up is provided and no affirmative oversight is made of the administration of the trust by the trustee.

In the event TPP is called upon to act by the Trustee or any of the beneficiaries, TPP will charge a reasonable fee for time spent plus any out-of-pocket expenses including any travel time and expenses. A retainer will be required at the time of such engagement.

Silver Level:

TPP consents to being named as the trust protector in the trust, obtains a copy of the trust and collects the contact information for the trustee and each beneficiary. This information is maintained in TPP’s database with a copy of the trust. In addition, the Silver Level of service also includes:

• Annual contact with trustee to confirm that the trustee remains in office.
• Annual request to the trustee to confirm contact information for the trustee and beneficiaries. TPP’s database is updated as needed.
• Annually confirm with trustee that there have been no amendments to the trust, even though the trust protector provisions in the trust impose an affirmative duty on the trustee to update the trust protector with any amendments.
• Review of periodic accountings provided to TPP as required by the terms of the trust.
• Within 20 business days of receipt of each accounting, request the trustee to provide a copy of one bank statement, a copy of one brokerage statement and copies of five receipts and five disbursements with related backup information, for the months, receipts and disbursements specified by TPP.
• One annual meeting with the trustee to review the originals of the documents provided to TPP.

In the event TPP provides services beyond those outlined above, TPP will charge an hourly fee for time spent plus any out-of-pocket expenses, including any travel time and expenses. A retainer will be required at the time of such engagement.

Gold Level:

All of the services described for the Silver Level and

• Within 20 business days of receipt of each accounting, request the trustee to provide a copy of:

• • 2 bank statements,
  • 2 brokerage statements
  • 10 receipts and
  • 10 disbursements with related backup information, for the months, receipts and disbursements specified by TPP

In the event TPP provides services beyond those outlined above, TPP will charge an hourly fee for time spent plus any out-of-pocket expenses, including any travel time and expenses. A retainer will be required at the time of such engagement.

Platinum Level:

All of the services described for the Silver Level and

• Within 20 business days of receipt of each accounting, request the trustee to provide a copy of:

• • 2 bank statements
  • 2 brokerage statements
  • 20 receipts
  • 20 disbursements with related backup information, for the months, receipts and disbursements specified by TPP

In the event TPP provides services beyond those outlined above, TPP will charge an hourly fee for time spent plus any out-of-pocket expenses, including any travel time and expenses. A retainer will be required at the time of such engagement.

Trusts over $10,000,000.00 or holding complex assets:

TPP will tailor services to meet the unique needs of larger trusts or those holding more complex assets such as limited partnerships or LLCs. Such services will include all those described at the Platinum level and pricing will be determined.