Gavin Ferguson and Chris Hards discuss the rise in the use of protectors ‘The role of protectors in offshore jurisdictions has undergone a significant change in the few decades since their introduction.’ The offshore fiduciary industry began to see protectors being introduced during the mid to late 1980s. The rise in the popularity of their …
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Wills & Trusts Law Reports | September 2016 #162The settlor established a discretionary settlement (K Trust) under the laws of Guernsey in 1990. The protector, who was the first respondent, and the original trustee were friends and advisors of the settlor. B1, who was the first applicant, married the settlor in 1991 but they did not have any children. When the settlor died in 2001, B1 was the only beneficiary of the K Trust. She requested that consideration be given to adding some of her relatives as beneficiaries. The second respondent (who had replaced the original trustee in 2002), with the consent of the protector, added B1’...
Hannah Southon highlights a case that provides new guidance on the status of protectors in English law ‘The onus is on the draftsman to ensure that protectors’ powers, duties and the constitution that governs them are thoughtfully crafted, although of course no such draftsman can widen the court’s jurisdiction in this respect.’There have been very …
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