An Integrity Monitor should have the investment management industry and forensic expertise needed to prevent any wrongdoing in the administration of the trust. If you don’t have an expert in money management malfeasance dedicated to overseeing the investment program of your trust, it could easily lead to the loss of thousands of dollars that would otherwise have enriched the life of the beneficiary.
It’s common practice for major companies, agencies, and governments to hire “inspector generals” to oversee their operations and prevent the occurrence or reoccurrence of illegal or unethical business practices, as well as to detect fraud. Courts and regulators also often require that such a monitor be placed within a company to prevent future abuses as part of a legal settlement when the company has engaged in past wrongdoing.
You shouldn’t wait until something goes wrong with the administration of a special needs trust to add this important layer of independent protection. The annual cost is fairly insignificant and an integrity monitor who’s doing his or her job will more than pay for that expense.
Reference: Forbes (January 30, 2018) “Trusts, Special Needs Trusts, Family Offices All Need Integrity Monitors But Don't Know It”