§ 4-10-710 — Trust protector

Wyoming § 4-10-710

• Jurisdiction: Wyoming
• Title 04: Fiduciaries
• Ch. 10: UNIFORM TRUST CODE
• Art. 7: TRUSTEES, TRUST ADVISORS AND TRUST PROTECTORS

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(a) The powers and discretions of a trust protector shall
be provided in the trust instrument or may be established or
modified by a judicial order, and may, in the best interests of
the trust, be exercised or not exercised. The powers and
discretions may include, but are not limited to the following:
(i) To modify or amend the trust instrument to
achieve favorable tax status or because of changes in the
Internal Revenue Code, state law or the rulings and regulations
implementing such changes;
(ii) To amend or modify the trust instrument to take
advantage of changes in the rule against perpetuities, laws
governing restraints on alienation, or other state laws
restricting the terms of the trust, the distribution of trust
property, or the administration of the trust;
(iii) To appoint a successor trust protector;
(iv) To review and approve the accountings of a
trustee;
(v) To change the governing law or principal place of
administration of the trust;
(vi) To remove and replace any trust advisor for the
reasons stated in the trust instrument;
(vii) To remove a trustee, cotrustee or successor
trustee, for the reasons stated in the trust instrument, and
appoint a replacement;
(viii) To interpret terms of the trust instrument at
the request of the trustee;
(ix) To advise the trustee or cotrustee on matters
concerning any beneficiary;
(x) To direct, consent or disapprove a trustee's or
cotrustee's action or inaction in making distributions to
beneficiaries;
(xi) To increase or decrease any interest of the
beneficiaries to the trust, to grant a power of appointment to
one (1) or more trust beneficiaries or to terminate or amend any
power of appointment granted by the trust; however, a
modification, amendment or grant of a power of appointment may
not grant a beneficial interest to any person or class of
persons not specifically provided for under the trust instrument
or to the trust protector, the trust protector's estate or for
the benefit of the creditors of the trust protector; and
(xii) To elect for the trust to become a qualified
spendthrift trust under W.S. 4-10-516.