In a previous blog we examined the role and powers of trust protectors. We will now examine the relationship between protectors and trustees.
In recent years, settlors are increasingly appointing protectors on the settlement of trusts. There are a number of reasons for such an appointment:
- They may have yet to build a relationship with the proposed trustee;
- They wish to safeguard their wishes on settlement of the trust; and
- To oversee the proper administration of the trust.