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<p class="MsoNormal">Roger,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">It is most common for me to use them for tax issues in longer-term or specialty irrevocable trusts.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">However, they can be used in many situations, to list a few:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">Increased peace of mind – if the grantor can’t act due to incapacity or death – the trust protector can.<o:p></o:p></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">More flexibility and confidence – limitations in the trust, state law, or tax code may prevent the grantor from changing the trust to, for example, change the trustee or alter the
distribution provisions for a beneficiary. <o:p></o:p></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">Long-term protection of the trust assets – circumstances change, how do we address the fact that the beneficiary in a stable marriage may be going through a divorce? Other issues that
could be addressed, the incapacity of a beneficiary, extravagant spending, or lawsuits.<o:p></o:p></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">Oversight and support of the trustee – as Mark described.<o:p></o:p></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">Easier resolution of disputes – between co-trustees, a trustee and a beneficiary, or between beneficiaries.<o:p></o:p></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">As an alternative to TEDRA for modifications and amendments.
<o:p></o:p></li></ul>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="background:white"><span style="font-family:"Helvetica",sans-serif;color:#984806">Sincerely,</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Helvetica",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:14.0pt;font-family:"Helvetica",sans-serif;color:#984806">Derek W. Jensen,
</span><span style="font-family:"Helvetica",sans-serif;color:#984806">JD, LLM</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Helvetica",sans-serif;color:#984806">Managing Attorney</span><o:p></o:p></p>
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<p class="MsoNormal" style="background:white"><span style="font-family:"Helvetica",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">Jensen Law Office, PLLC</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">1833 N 105<sup>th</sup> St., Suite 301</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">Seattle, WA 98133</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">Tel: 206-</span><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:#990000">547</span><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">-1412</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Helvetica",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">8201 164th Ave NE, Suite 200</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">Redmond, WA 98052</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">Tel: (425) 698-2214</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon"> </span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:10.0pt;font-family:"Helvetica",sans-serif;color:maroon">Find us on the web at
<a href="http://www.jensenestatelaw.com/" target="_blank"><span style="color:blue">www.jensenestatelaw.com</span></a></span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Helvetica",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Mark Vohr<br>
<b>Sent:</b> Monday, June 1, 2020 10:23 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] trust protector<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Roger – As a professional trustee we have been seeing the instance of the use of trust protectors increasing over the last couple of years. I would say that we see them in about 10% of
our trusts. It certainly would be a useful discussion to identify when one makes sense and where one does not. From the trustee’s perspective, I don’t particularly care whether we have one or not, although I do like to see them involved in a trust where
the permissible distributee is challenged in their ability to review and understand an accounting and where there is no guardian. If counsel asks us, we are generally supportive of this appointment, particularly over the use of a co-trustee which can be more
challenging administratively, particularly when the only reason for having a co-trustee is to monitor.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">The only possible negative is that the appointment of a trust protector could increase the cost of administering the trust. Some trust companies work by the hour. Choosing an appropriate
and effective trust protector could help manage this cost. In selecting a trust protector, it may be helpful to consider the reason there is a trust (the fundamental intent of the trust) and find a good match who understands that intent and the trustee’s
fiduciary duty. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Regards, <o:p>
</o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Mark<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Mark C. Vohr, Esq.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Ohana Fiduciary Corp.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Ohana Financial Services<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">A Washington Trust Company<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Mark C. Vohr, J.D., CPG, Principal<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">PO Box 33710 Seattle, WA 98133<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">T: (206) 782-1189 F: (206) 782-1434<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><a href="mailto:mcv@ohanafc.com">mcv@ohanafc.com</a>
<a href="http://www.ohanafc.com">www.ohanafc.com</a><o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Roger Hawkes<br>
<b>Sent:</b> Sunday, May 31, 2020 2:50 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] trust protector<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Just curious: under what circumstances, and how frequently, do the rest of you include trust protectors in your estate plans?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Roger Hawkes, WSBA # 5173<o:p></o:p></p>
<p class="MsoNormal">Shoreline Office: 19944 Ballinger Way NE<o:p></o:p></p>
<p class="MsoNormal"> Shoreine, WA 98155<o:p></o:p></p>
<p class="MsoNormal">Sultan Office: 423 Main<o:p></o:p></p>
<p class="MsoNormal"> Sultan, WA 98294<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Phone: 206 367 5000; fax: 206 367 4005<o:p></o:p></p>
<p class="MsoNormal">Email: <a href="mailto:roger@law-hawks.com">roger@law-hawks.com</a>
<o:p></o:p></p>
<p class="MsoNormal">Web site: <a href="http://www.hawkeslawfirm">www.hawkeslawfirm</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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