Lastly, for either a revocable living trust. or sophisticated irrevocable trust, drafters’ error can be corrected, after signing, by either a trust protector or a nonjudicial settlement.

Trust protectors and judicial or nonjudicial reformation may be a safety net for scribner error. However, they are no substitute to competent trust drafting in the creation of a trust.

A trust protector oversees the trustees. Because dynasty trusts pass for many generations, a trust protector is an added layer of protection. The protector, sometimes called a trustee advisor, may be authorized with the power to remove and appoint trustees without cause, reform the trust to bring it in line with the trust purpose and other significant powers.

In a nonjudicial settlements, interested persons can agree to change the terms of the trust. Changes cannot violate a material purpose of the trust and include those trust modifications that only a court could approve. 

Nonjudicial settlements may include, among others:

• Interpretation of the terms of the trust
• Approval of trustee accounting
• Expansion or restriction of trustee powers
• Resignation or appointment of a trustee
• Trustee compensation
• Liability of a trustee

Nonjudicial settlement can be brought before a court for approval. This is desirable if a significant question arises whether the matter subject to Nonjudicial settlement is a proper matter for a court to adjudicate.