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The trust advisor of a DAPT serves several important roles. An entity may also serve in the following roles, instead of a person, if the entity meets certain requirements under state law.

Investment Advisor

This type of trust is irrevocable, naming the creator of the trust as the grantor and the sole lifetime beneficiary of the trust. 

Investment Manager

The investment trust advisor may hire one or more investment managers to actively manage the investment of the trust’s assets.

Distribution Committee

The distribution committee directs the trustee regarding discretionary distributions to the beneficiary.

Trust Protector

This person (or persons) has the overarching power to appoint, remove, and replace the trustee and any of the other trust advisors if necessary. This person (or persons) has the overarching power to appoint, remove, and replace the trustee and any of the other trust advisors if necessary.