Other Areas of Interest

In the latest in our Trusts in 2 Minutes series, Donna Matthews looks at protecting protectors.

What is a protector?

• Holds powers under a trust but is not a trustee.
• Independent of the trustees.
• Role: usually to monitor and oversee the administration of the trust by the trustees.

What should I consider prior to appointment?

• The terms of the trust deed are paramount.
• Any implied powers and duties.
• The history and background of the trust.
• The settlor’s wishes.

Important considerations

• Remuneration – are you entitled to be paid for your role as protector?
• Indemnification – are you entitled to reimbursement from the trust fund?
• Exoneration – are you exonerated for actions carried out in good faith as protector?

Read the entire article.