Trust Protector Partners Launches New Website to Promote Trust Asset Protection Services
Pasadena, CA (PRWEB) July 26, 2013 -- Trust Protector Partners has recently launched its new website, http://www.trustprotectorpartners.com, describing specific information about its services as a trust protector.
People who have trusts are concerned that the trustee will perform in a manner that they described in the trust. A trust protector can help. In order to fill this need for added protection, Trust Protector Partners has recently launched a new website on July 15, 2013, to describe levels of oversight and services it provides as a trust protector.
Establishing a trust protector in a trust provides a lawyer, accountant or other qualified entity, like Trust Protector Partners, legal and administrative power over the trust. This kind of third party involvement ensures that the trust is properly managed by the trustee.
“We have found that most lawyers and accountants don't want the liability involved in acting as a trust protector,” says co-founder Ruth Phelps. “Our services fill a great need in this country to hold trustees accountable for their actions and provide a mechanism to assure that a trust is being administered properly. Instead of bringing a dispute to court, where the terms of the trust will become public, and cost thousands of dollars in litigation fees and expenses, designating TPP as the trust protector can provide greater flexibility to resolve disputes and accommodate changes in beneficiary or other circumstances all at a very reasonable cost.”
A frightening example of trust mismanagement occurs when the trustee uses the trust assets for his or her own benefit, or keeps the beneficiaries in the dark for years about trust administration. Without provisions in the trust instrument establishing a trust protector, the only remedy is to go to court. But such action is often very costly, time intensive and any remedy is delayed by virtue of the court process itself.
To solve this common problem, the newly launched website outlines the details of the level of service necessary to meet the needs of the client. Divided on a scale from Bronze, Silver, Gold to Platinum, visitors can determine which services are appropriate for their situation.Dedicated to providing an adaptable level of service to clients, Trust Protector Partners,has developed this structure to accommodate the needs of every client and offers sample trust protector language to incorporate into the trust.
Bronze, the lowest level of involvement for asset protection, includes obtaining a copy of the trust and contact information from the trustee. This simple, yet effective action lets every person, including the trustee(s) and beneficiaries, know that they may be held accountable.
In addition to the services offered at Bronze level, the Silver level includes a collection of information that is reviewed annually. These include an annual contact with the trustee, an annual request of the confirmation of contact information for the trustee and beneficiaries, annual confirmation that there have been no amendments, a review of periodic accounting's that the trust may require and other various obligations.
Gold and Platinum levels include all silver level services and the request to the trustee to provide bank statements, brokerage statements and copies of other pertinent information for review.
For more details on each protection plan, further exploration of the new website provides a comprehensive description of the level of services appropriate for each particular situation. In addition to a comprehensive description of services, the website offers the ability for users to refer services to a friend or family member, and the ability to contact Trust Protector Partners by email or phone.
Designating TPP as the trust protector can provide a client with comfort that the terms of their trust will be carried out and the beneficiaries protected. In addition, TPP can assist the trustee in fulfilling their responsibility, where, in some cases, the designated trustee simply does not have the experience to properly manage the trust.
About Trust Protector Partners:
Trust Protector Partners have over 70 years of combined experience to provide the highest quality of service at a reasonable cost to their clients. Co-founder, Ruth Phelps, is a certified elder law attorney, a certified estate planning, trust and probate specialist, an adjunct professor at Loyola Law School, and has served as President of the National Academy of Elder Law Attorneys.Co-founder Edward Phelps, has extensive trust administrative experience and over 35 years of experience with real estate and business transactions and litigation, and he has also mediated well over 500 matters in his career.
Contact Information:
Melinda Nazim, Executive Director
Trust Protector Partners
301 N. Lake Avenue Suite 1002
Pasadena, CA 91101
Phone: (626) 683-9718
Email: info(at)trustprotectorpartners(dot)com
Melinda, Trust Protector Partners, http://www.trustprotectorpartners.com, +1 626.683.9718, [email protected]
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