Protector (trust)

Article summary

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.…

Key claims

1. publication date: 2007-05-01 — source: Wikipedia · confidence 0.95

Discussion questions

1. Summarise the article in your own words. Which single claim would you verify first, and why?
2. The record states that the publication date is "2007-05-01". What evidence would count against this claim?
3. Which claim in this article is most likely to be revised as the sources update? How would you check its current status?
4. If two sources disagreed about one of these facts, what would you need in order to trust one over the other?

Bibliography

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