Matz Quoted on Adding Trust Protectors to Revocable and Irrevocable Trusts
Financial Planning
Family Offices Industry Co-Leader Kevin Matz was quoted on the value of trust protectors in both revocable and irrevocable trust plans and can be useful even for responsible family members.
“Think in terms of any families or groups of families,” Kevin said. “There are some who are very responsible. There are some who, even though they’re very responsible, sometimes will get caught with unfortunate circumstances,” such as getting into an accident and being sued or having a marriage not work out.
He said, “Maybe you want to have provisions and tools that are in place that are designed to make sure that wealth gets maximized.”
Trust protectors are also useful for trusts where the trust is meant for a charity that ceases to exist. The protector — or an independent trustee — is able to allocate funds to a new charity, Kevin said.
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