A Protector is a person appointed to watch over a trust to help ensure that the wishes of the settlor are adhered to and that the interests of the beneficiaries are protected. Appointing a Protector is optional and the role of Protector is separate and distinct to the role of Trustee. The management and administration of the Trust is the sole preserve of the Trustee.
The Protector's primary objective is to ensure that the Trustee adheres to the provisions of the Trust Deed and acts in good faith. A Protector “supervises” certain trustee actions, providing direction and restraint, as appropriate. Settlors sometimes opt to appoint a family member or trusted advisor as Protector.
They may however, opt to appoint a professional Protector who has a better understanding of the role, and how that role complements the role of Trustee. Professional Protectors also have the following advantages:
Having wide and long experience in trusts and unanticipated matters which may arise and call for informed decisions, as well as matters in which expert guidance provides added value, we are optimally placed to provide Protector services where these are required.
A Settlor may wish to appoint a Protector for a variety of reasons including that: