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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Ann – <o:p>
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<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"> As a professional fiduciary, we work with trust protectors with some of our trusts. As you know, authority for this role comes under the Uniform Directed Trust Act, RCW 11.98B.
I would not characterize the use of a Trust Protector as necessary to avoid possibly having to go to court in the future or giving away too much power but, of course, it is all in the drafting.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"> This is a topic that would make a great CLE. It is hard to cover all the uses and issues that arise under the Uniform Act, but one common use I see in our work is the use of
a trust protector as an alternative to using co-trustees. There are a number of articles out there about the challenges of having co-trustees. Two challenging areas for us is trying to get financial institutions to work with co-trustees and the complexity
of working on day-to-day trust administration when there are multiple cooks in the kitchen. I often suggest to counsel that they ask their client why they want co-trustees and then see if the same goals can be achieved with a trust protector.
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<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"> One common goal is someone to oversee what the trustee is doing. Review accountings, review investment strategies, etc. In some cases, a trust protector may be empowered to
remove and replace a trustee, with or without cause, if the trustee is not a good fit for the particular trust. This transition could avoid going to court when a new trustee is needed, referring to one of your scenarios.
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<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"> Happy to answer any specific questions regarding our experiences, but in sum I’d say that trust protector can be a good alternative to a co-trustee, provide some outside oversight,
and avoid court for fixing trustee issues. <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:11.0pt;font-family:"Times New Roman",serif">Regards,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif">Mark<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif">Mark C. Vohr, J.D. CPGC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif">Ohana Fiduciary Corporation<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif">A Washington Trust Company<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif">155 NE 100<sup>th</sup> St., Suite 209<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif">Seattle, WA 98125<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Times New Roman",serif">Telephone: (206) 782-1189<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Ann Manley<br>
<b>Sent:</b> Monday, March 4, 2024 11:03 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Trust Protectors<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Are Trust Protector provisions necessary to avoid possibly having to go to court in the future, or do they give away too much power and are unnecessarily confusing for clients?<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Ann Manley, Esq.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">The Manley Law Firm, P.S., Inc.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">PO Box 16324</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Seattle, WA 98116</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">(206)292-3064 / (206)292-3914 fax</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><a href="https://urldefense.proofpoint.com/v2/url?u=http-3A__www.manleyfirm.com&d=DwMFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=K1mLMC1eFjwfeeMM-AC6zQ&m=YVBXLhiyTSYteaoBTkRAFhjEQMkpvv-tRcq4P_aL6OHfP9lsjdaVwWFxbMMdikVN&s=PNU_CQVm22w8YZDjj-U_JL10yzThVF1s1Ev-Yf9_5wk&e=" target="_blank">www.manleyfirm.com</a></span><o:p></o:p></p>
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<p><b><i><span style="font-size:10.0pt;font-family:"Arial",sans-serif">The Manley Law Firm practice areas include Bankruptcy*, Estate Planning, Auto Accidents, Civil Litigation, Construction, Commercial and Contract Law, Personal injury, Small Business, Unemployment
Claims, Wage Loss and Compensation claims</span></i></b><o:p></o:p></p>
<p><i><span style="font-size:8.0pt;font-family:"Arial",sans-serif">* The Manley Law Firm is a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.</span></i><o:p></o:p></p>
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