Trust Protector Clause Samples
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Trust Protector. (a) Notwithstanding any other provision of this Trust Agreement, there shall at all times be one Trust Protector to serve in accordance with the provisions of this Section 5.12. The Trust Protector shall be a Trust Indemnified Party. The initial Trust Protector shall be Dean Stacy Leeds.
(b) Any Trust Protector acting hereunder may resign at any time (i) by delivering written notice thereof to the Directors then serving; provided that notice to one Director shall constitute notice to all Directors then serving, or (ii) if there are no Directors then serving, by delivering written notice to the Delaware Trustee.
(c) A Trust Protector may be removed for good reason upon the unanimous consent of three (3) Directors then serving; provided, however, if there are less than three (3) Directors then serving, the Trust Protector shall not be removed except upon order of the Court. If a vacancy in the position of Trust Protector exists for any reason, the Directors may, upon unanimous consent of the Directors then serving, appoint a new Trust Protector. If the Directors do not appoint a new Trust Protector within thirty (30) days, then the Directors shall petition the Delaware Court of Chancery to appoint a successor Trust Protector to serve and any costs relating to the petition shall be borne by the Trust; provided, however, that if there are no Directors serving at the time of the Trust Protector vacancy, then the Delaware Trustee shall petition the Delaware Court of Chancery as provided above. At no time may Walmart or any party related to Walmart or its affiliates be eligible to serve as Trust Protector. A vacancy in the position of Trust Protector shall not limit the Directors from exercising any powers afforded them under the Trust Documents.
(d) The Trust Protector shall have only the authority set forth in Section 5.2(b), which authority may not be expanded by an amendment or modification of this Trust Agreement.
(e) The Trust Protector shall exercise the Trust Protector’s authority in a fiduciary capacity and in a way that the Trust Protector reasonably believes to be in accordance with the purposes of this Trust Agreement. The Trust Protector shall not be under any duty to inquire into or ensure the performance by the Directors of their duties and shall not be liable for any loss to such trust (unless such loss results from actions in bad faith or the willful misconduct of the Trust Protector).
(f) The Directors shall have no liability for the selection o...
Trust Protector. This Trust may be amended by the Trust Protector, if one is appointed by the Trustee as described in Section V.
Trust Protector. Notwithstanding any other provision of this Trust:
Trust Protector. ESTABLISHOR may appoint a Trust Protector. The Trust Protector has the power to demand that TRUSTEE transfer BENEFICIARY’s Trust Sub-Account to another pooled special needs trust that complies with 42 U.S.C. §1396p(d)(4)(C) or to an individual special needs trust that complies with 42 U.S.C. §1396p(d)(4)(A). Neither BENEFICIARY nor BENEFICIARY’s spouse may be appointed as Trust Protector. An appointed Trust Protector is ESTABLISHOR’s designee for purposes of receiving notices under N.C. Gen. Stat. § 36D.
1. Trust Protector Name: Address: Phone: Email: Relationship to BENEFICIARY:
2. Successor Trust Protector Name: Address: Phone: Email: Relationship to BENEFICIARY:
3. Second Successor Trust Protector Name: Address: Phone: Email: Relationship to BENEFICIARY:
Trust Protector. Pursuant to Article 6 of the trust instrument, ESTABLISHOR may appoint a party as Trust Protector. The Trust Protector has the power to demand that TRUSTEE transfer BENEFICIARY’s Trust Sub-Account to another third-party pooled special needs trust or to an individual third-party special needs trust; provided, that BENEFICIARY and the Remainder Beneficiary shall receive equivalent equitable interests in the successor trust. Neither BENEFICIARY nor BENEFICIARY’s spouse may be appointed as Trust Protector. As described in Section 6.3 of the trust instrument, an appointed Trust Protector is ESTABLISHOR’s designee for purposes of receiving notices under N.C. Gen. Stat. § 36D- 5(a).
1. Trust Protector Name: Address: Phone: Email : Relationship to BENEFICIARY:
2. Successor Trust Protector Information (to serve if named Trust Protector fails or ceases to serve) Name: Address: Phone: Email : Relationship to BENEFICIARY:
3. Second Successor Trust Protector Information (to serve if Successor Trust Protector fails or ceases to serve) Name: Address: Phone: Email : Relationship to BENEFICIARY:
Trust Protector. [8] is appointed as Trust Protector of each trust created under this instrument. The role of the Trust Protector shall be to oversee the application of such trusts from time to time as need arises and is brought to the attention of the Trust Protector and to take action as authorized in this instrument or by law where the Trust Protector exercises its discretion to do so, in order to protect the rights of the beneficiaries and accomplish the goals of the trust. The Trustee shall provide the Trust Protector with copies of all accountings, notices, and written communications sent to beneficiaries and shall allow the Trust Protector full access to books, records, and other information regarding the trust to the same extent as a beneficiary could have such access. The Trust Protector shall have standing to petition a court of competent jurisdiction and participate in any proceeding on any matter involving the trust. The Trust Protector shall have the powers and authority described in this Section or elsewhere in this instrument which may be used in the Trust Protector’s discretion to fulfill its limited fiduciary role, but only for protecting or advancing the interests of the Trust or, where appropriate, of the beneficiaries, or the interests of others affected by this Trust instrument where not materially detrimental to the interests of the Trust or beneficiaries as a class.
Trust Protector. The Trust Protector is the person who helps the Trustee ensure that the pet is receiving proper treatment from the caretaker. The Trust Protector can be a family member, friend, or perhaps even the veterinarian who provides routine medical care for the pet.
Trust Protector