Beyond Boilerplate: Trust Protectors—Protecting What, Exactly?
Breakfast Meeting
Raymond C. Odom, Partner, Hoogendoorn & Talbot LLP
Wednesday, May 20, 2026
7:30 - 9:30 am at Maggiano's Skokie
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approved for 1.0 CLE general | 1.0 CFP CE | CPA certificates provided
Trust protectors have become a standard feature in modern irrevocable trust design. This raises a fundamental question: exactly what are we asking trust protectors to protect us from?
This program discusses the evolution of Trusts and Trust Protectors, from offshore asset protection to their widespread use in domestic estate planning. Rather than treating carefully drafted trust protector provisions as the solution to an ill-defined problem, this presentation argues for a clearer articulation of grantor intent as the most effective framework for long-term wealth transfers.
The discussion concludes with Statements of Wealth Transfer Intent—a practical approach for expressing the trust’s purpose, priorities, and the trust protector’s role in long-term (deferred) wealth transfers.
Today's Speaker
Ray Odom brings more than three decades of experience in trust, estate, and tax law to his practice at Hoogendoorn & Talbot LLP-marking his second tenure with the firm. During his earlier years as an equity partner (1990-1994), he successfully resolved complex trust and estate disputes, administered probate estates and guardianships, and authored tax opinions that saved clients millions in federal estate and income taxes.
Throughout his career, Ray has guided individuals, families and charitable institutions through sophisticated wealth-transfer and estate-planning strategies. His work integrates deep technical knowledge of tax law and trust administration with a nuanced understanding of family-wealth dynamics and fiduciary governance.
Ray is a nationally recognized authority on Statements of Wealth Transfer Intent (SOWTI), Ray helps clients articulate and preserve the personal and philanthropic purposes behind their estate plans-bridging the gap between efficiency and legacy intent.
Thank You Meeting Sponsor
Location: Maggiano's, 4999 Old Orchard Shopping Ctr, Space #A28 Skokie, IL 60077
Fees:
- Season Pass Members: Free
- Regular Members and member's guests: $35 in advance, $40 at the door
- Non-members: $50
Agenda:
- 7:30 A.M. Networking and Breakfast
- 8:00 - 9:00 A.M. Presentation
I. We Have Been Asking the Wrong Question
II. Trust Protectors: A Mechanism Without a Mission
III. Illinois Law: Sparse, Enabling, Non-Explanatory
IV. Material Purpose: The Silent Adjudicator
V. What Carnegie Knew — and Buffett Finally Learned
VI. What “Good” Actually Looks Like
VII. The Cy Pres Parallel: Purpose Must Survive Time
VIII. The Missing Instrument: Statement of Wealth Transfer Intent
IX. The Conclusions
- 9:30 A.M. Meeting Adjourns
Learning Objectives
By the end of this webinar, participants will be able to:
- Identify the purpose and evolving role of trust protectors in modern trust planning and administration.
- Differentiate between administrative, fiduciary, and personal powers commonly granted to trust protectors.
- Evaluate what interests trust protectors are intended to protect, including settlor intent, beneficiary interests, tax objectives, and asset protection goals.
- Analyze the legal and fiduciary implications of granting broad protector powers under varying state laws and trust structures.
- Recognize common drafting pitfalls and ambiguities that create litigation, governance, or tax risks.
- Assess when a trust protector enhances flexibility versus when it creates unnecessary complexity or conflict.
- Apply practical drafting strategies to clearly define scope, accountability, succession, and standards of conduct for trust protectors.
- Interpret recent trends and case developments influencing the use and scrutiny of trust protector provisions.
- Develop best practices for advisors, trustees, and drafters when integrating trust protectors into estate planning structures.
- Distinguish between boilerplate trust protector clauses and intentional, purpose-driven design tailored to client objectives.
