Protector (trust)

For other uses, see Protector (disambiguation).

In trust law, a protector is a person appointed under the trust instrument to direct or restrain the trustees in relation to their administration of the trust.

Historically, the concept of a protector developed in offshore jurisdictions where settlors were (perhaps understandably) concerned about appointing a trust company in a small, distant country as sole trustee of an offshore trust which is to hold a great deal of the settlor's wealth. However, protectors now form a part of mainstream tax planning in most jurisdictions which recognise trusts.

There are a number of reasons that a settlor may wish to appoint a protector in relation to a trust:

  • protectors allow a great degree of flexibility when dealing with changes in circumstances, including both factual circumstances (death, premature divorce, previously unknown children) and legal changes (any legal changes, but most frequently changes to applicable revenue laws);
  • the settlor may be concerned that the trustee may not pay sufficient attention to his wishes;
  • the settlor wishes certain powers to be withheld from the trustees; or
  • the settlor wishes a third party to act as a main point of contact, between the beneficiaries and the trustees.

The powers vested in the protector vary both according to the proper law of the trust and the terms of the trust instrument. They include power to:

  1. remove and appoint trustees;
  2. approve a change of proper law;
  3. approve the addition or removal of beneficiaries;
  4. approve proposed trust distributions;
  5. approve the appointment of an agent or adviser either generally or in relation to specific matters;
  6. approve investment recommendations;
  7. appoint replacement protectors; and
  8. terminate the trust or approve the termination of the trust.

Conceptually many commentators have difficulty with the idea of a protector, as this undermines the role which in law has historically been fulfilled by the trustees. As protectors are a relatively recent innovation in trust law, case law is scant. Is it not even clear if as a matter a law a protector would owe fiduciary duties to the beneficiaries (although in practice, many trust instruments expressly state that they shall).[1]

It is sometimes suggested that where the protector is too close to the beneficial interest in the trust (for example, if the protectors have power to confer benefits upon themselves, directly or indirectly) this may destroy the essential nature of the trust. If the protector has power to grant beneficial interests in the trust fund to the settlor, this may have disastrous tax consequences in some jurisdictions.

  • [1] Considerations when acting as a Protector by Andrew Law, Published: 1 May 2007

Footnotes

  1. ^ Although legislation in Idaho seems to assume that in that state at least a protector is a fiduciary."Archived copy". Archived from the original on 23 March 2007. Retrieved 27 November 2006.{{cite web}}: CS1 maint: archived copy as title (link)

Read other articles:

Strada statale 291 dir del Calich

Strada statale 291 dir del CalichLocalizzazioneStato Italia Regioni Sardegna Province Sassari DatiClassificazioneStrada statale InizioSS 291 presso Fertilia FineSP 42 presso Alghero Lunghezza4,071[1] km Data apertura1980 GestoreANAS Manuale La strada statale 291 dir del Calich (SS 291 dir), conosciuta localmente con l'appellativo di variante di Lu Fangal e già nuova strada ANAS 85 del Calich (NSA 85)[2], è una strada statale della Sardegna nord-occidentale ges...

 

 

Benoît Hamon

Pour les articles homonymes, voir Hamon. Benoît Hamon Benoît Hamon en 2017. Fonctions Conseiller régional d'Île-de-France En fonction depuis le 18 décembre 2015(8 ans, 3 mois et 15 jours) Élection 13 décembre 2015 Réélection 27 juin 2021 Président Valérie Pécresse Groupe politique PÉ 26 mars 2010 – 24 octobre 2014(4 ans, 6 mois et 28 jours) Élection 21 mars 2010 Président Jean-Paul Huchon Député français 27 septembre 2014 – 20 juin 2017(2&#...

 

 

From Repair to Pair

Artikel ini sebatang kara, artinya tidak ada artikel lain yang memiliki pranala balik ke halaman ini.Bantulah menambah pranala ke artikel ini dari artikel yang berhubungan atau coba peralatan pencari pranala.Tag ini diberikan pada Februari 2023. From Repair to Pair adalah sebuah seri drama romansa Tiongkok tahun 2022 garapan Cha Chuen Yee. Seri tersebut rilis pada 8 Desember 2022. Seri tersebut menampilkan Teresa Li, Zhou Jun Wei, dan Zhang Chao dan terdiri dari 23 episode.[1] Sinopsi...

جامعة سوهاج

جامعة سوهاج معلومات التأسيس 2006  الموقع الجغرافي إحداثيات 26°27′27″N 31°40′05″E / 26.457469815034°N 31.668029864776°E / 26.457469815034; 31.668029864776  المدينة سوهاج، سوهاج الجديدة المكان محافظة سوهاج  البلد مصر  سميت باسم محافظة سوهاج  الإدارة الرئيس حسان حمدي عبدالرحمن النعمان�...

 

 

Первородный грех

Об экономическом термине см. Первородный грех (экономика). ХристианствоБиблия Ветхий Завет Новый Завет Евангелие Десять заповедей Нагорная проповедь Апокрифы Бог, Троица Бог Отец Иисус Христос Святой Дух История христианства Апостолы Хронология христианства Ран�...

 

 

Joseph Babinski

French-Polish neurologist Joseph BabinskiBornJoseph Jules François Félix Babinski (Józef Julian Franciszek Feliks Babiński)(1857-11-17)17 November 1857Paris, FranceDied29 October 1932(1932-10-29) (aged 74)Paris, FranceNationalityFrench-PolishOccupationNeurologyKnown forBabinski sign Joseph Jules François Félix Babinski (Polish: Józef Julian Franciszek Feliks Babiński; 17 November 1857 – 29 October 1932) was a French-Polish professor of neurology. He is best known for his 1...

Héroïde funèbre (Liszt)

Symphonic poem by Franz Liszt A portrayal of the Battle at Tápióbicske, a battle between Hungarian revolutionists and the Hungarian Government Héroïde funèbre, S. 102, is a symphonic poem written by Franz Liszt in 1850 and published in 1857 as No. 8. The work originated as the first movement of a planned Revolutionary Symphony inspired by the July Revolution.[1] Liszt pays homage in this programmatic symphonic poem to the soldiers and men that died fighting in revolutionary effor...

 

 

Chartres-de-Bretagne

Pour les articles homonymes, voir Chartres. Chartres-de-Bretagne L'église Notre-Dame. Blason Logo Administration Pays France Région Bretagne Département Ille-et-Vilaine Arrondissement Rennes Intercommunalité Rennes Métropole Maire Mandat Philippe Bonnin (DVG) 2020-2026 Code postal 35131 Code commune 35066 Démographie Gentilé Chartrains Populationmunicipale 8 237 hab. (2021 ) Densité 816 hab./km2 Population agglomération 395 710 hab. Géographie Coordonnées ...

 

 

Otto Georg Thierack

Otto Georg Thierack Menteri Kehakiman ReichMasa jabatan20 Agustus 1942 – 30 April 1945PresidenAdolf Hitler (sebagai Führer)KanselirAdolf HitlerPendahuluFranz SchlegelbergerPenggantiJabatan ditiadakan Informasi pribadiLahir(1889-04-19)19 April 1889Wurzen, Kerajaan Saxony, Kekaisaran JermanMeninggal26 Oktober 1946(1946-10-26) (umur 57)Sennelager, Rhine Utara-Westphalia, Jerman pada masa pendudukan SekutuKebangsaanJermanPartai politikPartai NaziSunting kotak info • L ...

Человек прямоходящий

† Человек прямоходящий Научная классификация Домен:ЭукариотыЦарство:ЖивотныеПодцарство:ЭуметазоиБез ранга:Двусторонне-симметричныеБез ранга:ВторичноротыеТип:ХордовыеПодтип:ПозвоночныеИнфратип:ЧелюстноротыеНадкласс:ЧетвероногиеКлада:АмниотыКлада:Синапсиды�...

 

 

Hindustani Lal Sena

Hindustani Lal Sena (Hindi: हिन्दुस्तानि लाल सेना, 'Indian Red Army') was an anticolonial guerrilla group in India. It was formed on 13 April 1939 (on the anniversary day of the Jallianwala Bagh massacre). It was founded by Maganlal Bagdi and Pandit Shyam Narain Kashmiri along with their associates.[1] Pandit Shyam Narayan Kashmiri In Calcutta, 1943, a secret plan of subversion was planned on the advice of many national leaders. The plan was to b...

 

 

Be Brave Like Ukraine

Communication campaign Be Brave Like UkraineProduced byBanda AgencyCountry UkraineWebsitehttps://brave.ua Be Brave Like Ukraine (Ukrainian: Будь сміливим, як Україна) or Bravery (Ukrainian: Сміливість) is a communication campaign created during the full-scale Russian invasion of Ukraine in 2022.[1] The campaign which is claimed to be part of Ukrainian propaganda[2][3] is designed to highlight the main feature of Ukrainians. It w...

History of Kosovo

Part of a series on the History of Kosovo Prehistory Archaeology of Kosovo Neolithic sites Copper, Bronze and Iron Age sites Antiquity Kingdom of Dardania Dardani Roman Kosovo Dardania & Praevalitana Roman heritage in Kosovo Late Antiquity and Medieval sites Medieval Kosovo Bulgarian Empire (681–1018, 1185–1396) First Empire Second Empire Kingdom of Serbia (1217–1346) Serbian Empire (1346–1371) District of Branković (1371–1412) Branković dynasty Moravian Serbia (1371–1402) ...

 

 

Drawbar (haulage)

Vehicle and trailer coupling This article is about haulage. For other uses, see Drawbar (disambiguation). This article includes a list of general references, but it lacks sufficient corresponding inline citations. Please help to improve this article by introducing more precise citations. (January 2015) (Learn how and when to remove this message) Look up drawbar in Wiktionary, the free dictionary. A large ballast tractor pulling a load using a drawbar General duty tow hitch from VBG on a truck...

 

 

Chandrasiri Gajadeera

Sri Lankan politician (1946–2019) Hon.Chandrasiri GajadeeraMPDeputy Minister of Vocational TrainingIn office2000–2001Deputy Minister of Housing & Construction Industry, Eastern Province Education & Irrigation DevelopmentNon-Cabinet Minister of Home AffairsIn office2007–2010Deputy Minister of Finance & PlanningIn office2010 – 12 January 2015Member of Parliamentfor Matara DistrictIn office2004 – 6 September 2019In office1994–2001 Personal detailsBorn(19...

Revised Version

Late 19th-century British revision of the King James Version For other uses of King James Version, see King James Version (disambiguation). Revised VersionOuter cover of Revised Version of the Bible, bound in leather with a full yapp. Published by Oxford in 1885.Full nameEnglish Revised VersionAbbreviationRV[a]OT published1885NT published1881Complete Biblepublished1894Online asRevised Version at Wikisource Derived from1881 Westcott and Hort New Testament Greek Crit...

 

 

Killing of Zijie Yan

In this Chinese name, the family name is Yan. 2023 homicide in Chapel Hill, North Carolina Killing of Zijie YanDr. Zijie YanLocationCaudill Labs, University of North Carolina, Chapel Hill, North Carolina, U.S.DateAugust 28, 2023; 9 months ago (2023-08-28) c. 1:02 p.m. (EDT)Attack typeSchool shooting, murderWeapon9 mm handgun[1]VictimZijie YanAccusedTailei QiChargesFirst-degree murder On August 28, 2023, Zijie Yan, an associate professor at the University of Nort...

 

 

Battle of Monterey

For the 1842 incident at Monterey, see Capture of Monterey. For the battle in Mexico, see Battle of Monterrey. Battle of MontereyPart of Conquest of CaliforniaMexican–American WarOfficers of Commodore Sloat raise the U.S. flag over MontereyDateJuly 7, 1846LocationMonterey, CaliforniaResult American victoryBelligerents  United States MexicoCommanders and leaders John D. SloatEarl Van Dorn Mariano SilvaStrength 225 sailors and marines[1] unknownCasualties and losses None None vte...

Associazione Sportiva Giana Erminio

AS Giana ErminioCalcio Biancazzurri,[1] La Giana,[2] I ragazzi della Martesana[3] Segni distintiviUniformi di gara Casa Trasferta Terza divisa Colori sociali Bianco, azzurro SimboliLeone[4] InnoGiana Sogno BiancazzurroMM2 band[5] Dati societariCittàGorgonzola Nazione Italia ConfederazioneUEFA Federazione FIGC CampionatoSerie C Fondazione1909 Rifondazione1931Presidente Oreste Bamonte Allenatore Andrea Chiappella StadioCittà di Gorgonzola(3 76...

 

 

Acala

One of Wisdom kings in Buddhism For other uses, see Acala (disambiguation). This article should specify the language of its non-English content, using {{lang}}, {{transliteration}} for transliterated languages, and {{IPA}} for phonetic transcriptions, with an appropriate ISO 639 code. Wikipedia's multilingual support templates may also be used. See why. (December 2021) AcalaStatue of Fudō Myōō (Acala), from early 13th century (Kam...