Modern Wealth Management
Welcome to Modern Wealth Management by Monon Wealth, where we tackle pertinent financial topics to help better position you and your business for success.
Listen as Darrick Hutchens and Ray Kramer, Managing Partners of Monon Wealth Management, tap into four decades worth of experience in the financial sector and unpack their strategies for today's level of modern wealth management.
So, sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.
Modern Wealth Management – Episode 6 (Have a Trust? You Might Need a Trust Protector!)
In the latest installment of Modern Wealth Management, Darrick explores the complex nature of trusts and why it’s beneficial to have a trust protector in place.
When you have a trust, it’s overseen by a trustee. But, who is keeping an eye on the trustee to ensure he or she is not exploiting you? If the answer is “no one” or “I don’t know,” it may be time to consider adding a trust protector to your team of advisors.
Listen as Darrick shares his first-hand experience with trusts and why trust protectors can be an extremely beneficial addition to your fiduciary team of experts.
Timecodes:
0:04 – Overview on the topic of the day
2:08 – The various parties involved in a trust
8:27 – Grantors typically don’t realize they need to be on guard during this process
10:30 – How a trust protector can help with the fees typically associated with the trustee
13:08 – The overall role of the trust protector
17:06 – What happens when a trust protector recognizes that the trustee isn’t operating effectively
19:38 – How someone would go about hiring a trust protector
20:46 – Summarizing the need for a trust protector
23:50 – Closing remarks
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April 27, 2021
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