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Trust Protector Forms - Appendix III - Trust Protectors: A Practice Manual with Forms
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10185
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Originally from:
Trust Protectors: A Practice Manual with Forms - Hardcover Version
Trust Protectors: A Practice Manual with Forms - Digital Version
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General Use Note
The position of protector is relatively new and unique, and, unlike
the various forms of trusts and numerous trust provisions offered in
drafting manuals, the suggested forms and provisions for protectors
are few. Those that are offered here are the creations of their author,
forms that were drafted in response to needs those forms did not
address, and thus while they cannot claim to bear a universal stamp
of approval by dint of common practice, judicial rulings or case
decisions, they are nonetheless the result of effort, experience, and
careful thought. The following Forms, also included on CD-ROM for
ease of use, are offered to provide practitioners with guidance and to
act as a stimulus for users to develop their own forms to suit their
own clients’ objectives. Familiarity with the law and a thorough
understanding of the client’s situation will always prove the best
advisors. It is this familiarity with the law that the preceding
chapters seek to foster, in conjunction with the Forms provided in
this work.
Furthermore, and importantly, it must be noted that it is my firm
position that with rare exception (as where the protector is also a
beneficiary and the settlor wishes to grant broad personal powers to
the protector to the likely detriment of other beneficiaries), the
protector is a fiduciary, acting in a fiduciary role, and the forms
provided here were developed and are proposed with that in mind.
It should also be noted that all of the provisions which contain
direct or indirect dispositive powers (e.g., the power to amend the
trust or to add and delete beneficiaries) will likely involve important
tax considerations,1 unless an independent party is serving as
protector.
Alexander A. Bove, Jr. is a widely known and respected trust and estate attorney with over forty years of experience. He is an Adjunct Professor of Law, Emeritus, of Boston University Law School Graduate Tax Program, where he taught estate planning and advanced estate planning for eighteen years. In 1998 he was admitted to practice in England and Wales. Alexander Bove has been quoted in the New York Times, The Wall Street Journal, Business Week, Worth, Forbes, Money, and Fortune as an authority on trusts and estate planning and asset protection planning. From 1973 to 1995 he authored the widely acclaimed legal and financial column, "The Family Money," for the Boston Globe. He has published several books on subjects of estate planning, asset protection planning, taxes, trusts and estates. An internationally known lecturer in his fields of expertise, Mr. Bove has lectured at the annual Heckerling Tax Institute, annual meetings of the American College of Trust & Estate Counsel (ACTEC), the Association of Advanced Life Underwriters (AALU), The Million Dollar Round Table (MDRT), Top of the Table, The Annual Notre Dame Estate Planning Institute, and The International Academy of Estate and Trust Law. Mr. Bove was named in "The Best Lawyers in America, Trusts and Estates" for 2012 - 2013, was named Estate Planner of the Year by the Boston Estate Planning Council, and was elected to the National Estate Planning Hall of Fame in 2014. He recently received his Ph. D. in law from the University of Zurich law school.
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