Trust Protector

2015 07 01 | Category: Offshore Glossary

Editor Offshore Glossary Leave a Comment

Trust Protector – A person appointed by the settlor to oversee the trust on behalf of the beneficiaries. In many jurisdictions, local trust laws define the concept of the trust protector. Has veto power over the trustee with respect to discretionary matters but no say with respect to issues unequivocally covered in the trust deed. Trust decisions are the trustee’s alone. Protector has the power to remove the trustee and appoint trustees. Consults with the settlor, but the final decisions must be the protector’s. The extent of the protector’s powers in each separate case is defined by the settlor.

EditorTrust Protector