Section 23.8 Trust Protectors

• Library: Estate Administration 2014 Supp

6. (§23.8) Trust Protectors

The sole case dealing with the relatively new concept of trust protectors—indeed the only Missouri case recognizing the existence of this conceptual fiduciary—is Robert T. McLean Irrevocable Trust v. Davis, 283 S.W.3d 786 (Mo. App. S.D. 2009). In McLean, a successor trustee sued former trustees for actions taken by them while in office. But a trust protector named in the trust indenture was also made a defendant on the ground that he had failed to monitor the trustees and stop them from taking liberties with the trust, ostensibly because he had a business relationship with them. The court took note of the developing usage of the term “trust protector” and observed that the official comment to § 808 of the Uniform Trust Code (2005), 7C U.L.A. 362 (2006), specifically references “trust...