Frequently Asked Questions /

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Does a protector need to be qualified or licenced in any way?
No, but preferable as role involves levels of skills and knowledge normally possessed by a professionally qualified person or firm.

Does a protector need to be approved by the trustees?
No. It is the choice of the settlor alone. The settlor can nominate a successor in the letter of wishes.

How can a protectors be removed?
By settlor if powers are reserved in the trust deed.

Is the role of protector defined in law?
Normally no but terms of office and role are detailed in the trust deed and letter or wishes

What if a protector is considered obstructive by the trustees?
Trustees can make a court application for removal

What if the protector wishes to resign?
Resignation can be accepted

How can a successor protector be appointed if not by nomination by existing protector?
Terms will be recorded in the trust deed relating to appointment of a successor

Can trustees and/or settlor block the appointment of successor protector?
Refer to the letter of wishes and/or reserve powers of the settlor in the trust deed

What happens if the protector role becomes vacant?
Normally reference to this should be made in the letter of wishes. The trustees can carry out the powers of the protector role until such time as they appoint a new protector

Does the protector have to explain his decisions and if so to whom?
The protector does not need to explain his decisions but is recommended to record contemporaneously the rationale for his decision

Does the protector have access to trust funds if he considers he needs legal and professional advice?
No but protector can request an indemnity at the time of his appointment

Who does the protector report to, if at all?
No one but he has an overriding duty of care to the beneficiaries

How does the Settlor's letter of wishes bind the protector?
The protector primary concern and responsibility is to the beneficiaries. The letter of wishes will serve as a guide only.

Can a protector receive a fee for his services?
Yes. Best recoded in a form of letter of engagement

What if the protector is conflicted in any way?
The protector should fully disclose this to the settlor and trustees

Can a protector also be a trustee?
No

Can a protector be a beneficiary?
Yes but not recommended as potentially conflicted

Can a protector be a body corporate?
Yes

Must the role of protector be mentioned in the trust deed?
Yes

Can a protector remove the trustees?
Yes if this power is expressly covered in the trust deed

Can an individual and professional corporate protector be appointed as joint protectors?
Yes


THE ABOVE IS A GENERAL GUIDE ONLY. EACH TRUST DEED, LETTER OF WISHES AND TRUST JURISDICTION MUST BE CONSIDERED INDIVIDUALLY