Trust Protectors

Introduction; basic concepts and definitions; outline of the history and development of the role of protector; uses of the protector in a trust; sources of law on protectors; Fiduciary position; importance of the fiduciary question; approaches to the fiduciary question; explanation of fiduciary doctrine as it relates to the protector; determining whether the protector is in a fiduciary position; Appointment; who is able to act as protector?; appointment of the settlor/beneficiary/trustee as protector; use of professional protectors; methods of appointment of the protector; acceptance of office; disclaimer; Powers; creation of powers; capacity to exercise powers; delegation of powers; manner of exercise of powers; disclaimer of powers; specific powers given to protectors; Limits and Duties; categorisation of limits and duties in relation to the exercise of powers; express and statutory limitations; other limits on the scope - third party consents; fraud on a power and purpose restrictions; duty of good faith; fiduciary duties; duty of skill and care; Control; removal of the protector from office by the trustees/the beneficiaries/the Court; actions to prevent the protector from exercising powers/directing the exercise of powers; remedial actions against the protector for negligence/breach of fiduciary duty; beneficiaries/trustees rights against the protector - disclosure of documents; Rights; classification of rights of the protector; right to remuneration; right to an indemnity out of trust assets; standing to bring an action for breach of trust and other types of claim; right of access to accounts and documents; other rights, including right to interact with trustees; Retirement and removal; death of a protector; automatic and voluntary retirement; removal or replacement of protector; Relationship between protector and trustees; problems caused by interposition of protector in a trust; protector's responsibilities; trustees' responsibilities; protectors and exoneration clauses; Precedents.