Protector Definition

GLOSSARY

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What does Protector mean?

A protector is a person chosen by the settlor holding powers under a trust but who is not a trustee and is independent of the trustees. The protector’s role is usually to monitor, oversee or control the administration of the trust by the trustees.

View the related checklists about Protector

Trustees and beneficial ownership information—checklist

Trustees and beneficial ownership information—checklist This Checklist should be read alongside Practice Notes: Trusts—disclosure of beneficial ownership information via the Trust Registration Service (TRS) and record-keeping and Trust Registration Service (TRS). See also Practice Notes: Trust Registration Service (TRS)—table of registration requirements and deadlines and Trust Registration Service (TRS)—trusts excluded from registration. These Practice Notes contain guidance on trustees’ obligations imposed as a result of the implementation (in relation to the registration of trusts) of the EU’s Fourth Anti-Money Laundering Directive Directive (EU) 2015/849 (4MLD) through the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692 and the EU’s Fifth Anti-Money Laundering Directive Directive (EU) 2018/843 (5MLD) through the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (MLR 2020), SI 2020/991. In this Checklist, references to MLR 2017, SI 2017/692 include the amendments incorporated as a result of MLR 2020, SI 2020/991 coming into effect, unless otherwise stated. Beneficial owners of a trust include the settlor(s), trustee(s), beneficiaries and...

Trust disputes—table of cases

Trust disputes—table of cases Existence and validity of trusts Topic Case name Summary Author Jurisdiction Existence and validity of trusts Provincial Equity Finance Ltd v Dines (née Breda) [2023] EWHC 103 (Ch) News Analysis: ‘By prosperous voyages I often made…And the great care of goods at random left’—resulting trust and the dominion of express trusts (Provincial Equity Finance Ltd v Dines and a Tragedy of Errors)This case demonstrates the practical difficulty of establishing a claim for resulting trust where a chaotic deceased used bank accounts for mixed purposes and establishes that an express trust may supplant the presumption of resulting trust even where the party advancing funds is not a party to the express trust. Nicholas Holland, McDermott Will & Emery UK LLP England & Wales Existence and validity of trusts Attorney General v Zedra Fiduciary Services (UK) Ltd and others [2022] EWHC 102 (Ch) News Analysis: Cy près scheme approved for £600m charitable trust to be applied to reduce the National Debt (Attorney General v Zedra Fiduciary Services (UK)...

Cayman Islands foundation companies

Cayman Islands foundation companies What is a Cayman Islands foundation company? The Foundation Companies Law, 2017 has been in force now for over five years, enabling the establishment of foundation companies (FC) in the Cayman Islands. Its uniqueness stems from the combination of company and traditional trust and foundation features. For general information on foundations, see the Practice Note: Private foundations—a summary. A Cayman Islands FC is not a new entity; it is indeed a new form of company incorporated under the Companies Act (Revised). Like any other Cayman Islands companies, an FC can be a company limited by shares or a company limited by guarantee with or without share capital. An FC with separate legal personality owns assets in its own name and has all the powers and capacity unless it is restricted by its constitution. It can be set up for purposes, or for persons, or both. The day-to-day operation of an FC is managed by its board of directors. There are several distinctive...

Alternatives to litigation—contentious trusts and estates

Alternatives to litigation—contentious trusts and estates The traditional approach to disputes has been to resort to litigation rather than using the less contentious methods of alternative dispute resolution (ADR). At the heart of a trust, which creates binding equitable obligations on the trustees enforceable by the beneficiaries, is essentially a personal relationship. In the case of a dispute that personal relationship might be exposed to attack for a variety of reasons, such as lack of validity of the trust or improper administration of the trust by the trustees. Disputes between trustees and beneficiaries can be traumatic and generally cast a pall over any future meaningful relationship. Clearly there are cases where litigation is the only solution but the courts generally expect the parties to try to resolve the dispute by alternative means. In contentious estates matters, as in many trust disputes, there is usually a personal relationship between the parties and psychological factors, such as the affect of the grieving process on decision making. The Civil Procedure...

Discover our 51 Practice Notes on Protector

Standard order 1.1—financial directions order—longer version

Standard order 1.1—financial directions order—longer version In the Family Court sitting at [Court name] No: [Case number] [ The Matrimonial Causes Act 1973 OR The Civil Partnership Act 2004 OR The Child Support Act 1991 OR Schedule 1 to the Children Act 1989 OR The Inheritance (Provision for Family and Dependants) Act 1975 OR The Matrimonial and Family Proceedings Act 1984 and Schedule 7 to the Civil Partnership Act 2004 OR The Trusts of Land and Appointment of Trustees Act 1996 OR The Married Women’s Property Act 1882 and ss 67, 68 and 74 of the Civil Partnership Act 2004 ] OR [(DELETE AS APPROPRIATE)] The [Marriage OR Civil Partnership OR Relationship OR Family] of [applicant name] and [respondent name] After hearing [name the advocate(s) who appeared] After consideration of the documents lodged by the parties [ [(IN THE CASE OF AN ORDER MADE WITHOUT NOTICE)] After reading the statements and hearing the witnesses specified in para [para number] of the Recitals below] Order made by [name...

Standard order 1.2—financial directions order—shorter version

Standard order 1.2—financial directions order—shorter version In the Family Court sitting at [Court name] Case No: [Case number] [ The Matrimonial Causes Act 1973 OR The Civil Partnership Act 2004 OR The Matrimonial and Family Proceedings Act 1984 and Schedule 7 to the Civil Partnership Act 2004 OR Schedule 1 to the Children Act 1989 ] [DELETE AS APPROPRIATE] The [Marriage OR Civil Partnership OR Relationship OR Family] of [applicant name] and [respondent name] After hearing [name the advocate[s] who appeared] After consideration of the documents lodged by the parties ORDER MADE BY [NAME OF JUDGE] ON [DATE] SITTING IN [OPEN COURT OR PRIVATE] AT A [FIRST APPOINTMENT OR FINANCIAL DISPUTE RESOLUTION APPOINTMENT] [DELETE AS APPROPRIATE] WARNING: IF YOU DO NOT COMPLY WITH THIS ORDER, YOU MAY BE HELD TO BE IN CONTEMPT OF COURT AND YOU MAY BE SENT TO PRISON, BE FINED, OR HAVE YOUR ASSETS SEIZED. The parties 1 The applicant is [applicant name] The [first] respondent...

Dive into our 5 Precedents related to Protector

Is there a definition of ‘beneficiary’ as applied in Brussels I (recast) ie does this cover companies/individuals?

Is there a definition of ‘beneficiary’ as applied in Brussels I (recast) ie does this cover companies/individuals? The term ‘beneficiary’ in relation to jurisdiction is referred to in Regulation (EU) 1215/2012, Brussels I (recast) in: • Articles 7(6) and 25(3) of Regulation (EU) 1215/2012, Brussels I (recast) when dealing with trusts, and • section 3 of Regulation (EU) 1215/2012, Brussels I (recast) (starting at Article 10 of Regulation (EU) 1215/2012, Brussels I (recast)) and Articles 26 and 31(4) of Regulation (EU) 1215/2012, Brussels I (recast) in relation to Insurance contracts However, there is no definition of beneficiary within the regulation. It may be that the term is not defined within the regulation as the term beneficiary would be a defined term within either the trust instrument or the insurance contract. The definition would, therefore, be taken from the underlying trust instrument or insurance contract and so a definition is not required within the regulation. Trusts When dealing with a trust, the court with jurisdiction will generally be that where...

What is the correct procedure for a beneficiary with an entailed interest under a strict settlement to bar the entail?

What is the correct procedure for a beneficiary with an entailed interest under a strict settlement to bar the entail? Tenant in tail in possession A tenant in tail in possession and of full age can bar the entail under the Fines and Recoveries Act 1833 (FRA 1833) by any assurance (ie any conveyance or other transfer) except a Will, by which a fee simple estate may be disposed of. This is known as a disentailing assurance, and must be either made or evidenced by a deed. As the FRA 1833 requires an assurance, a mere declaration that the entail has been barred will not suffice. If the tenant wishes to dispose of the land he makes the disentailing assurance in favour of the grantee, if he wishes to retain it he makes the disentailing assurance to trustees in trust for himself. Since 1925 it has also been possible for a tenant in tail of full age to bar the entail by a Will executed after 31 December...

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Private Client weekly highlights—8 June 2023

This week’s edition of Private Client highlights includes: (1) The Department of Health and Social Care updates its statutory guidance to the Care Act 2014; (2) Emirates NBD Bank PJSC v Almakhawi, which considered gratuitous transfers, resulting trusts and the presumption of advancement; (3) Baker and another v Hewston, which considered the relationship between Banks v Goodfellow and the Mental Capacity Act 2005; (4) The Scottish Law Commission’s publication of its Eleventh Programme of Law Reform; (5) The European Commission’s proposal on new rules on protecting adults across-borders; (6) The Good Law Project’s claim against HMRC to end the favourable tax treatment of carried interest, and (7) a webinar on 13 June about the Liberty Protection Safeguards with Alex Ruck Keene KC (Hon) and Graeme Kenna.

Spotlights on the Trusts and Succession (Scotland) Bill

Private Client analysis: The Trusts and Succession (Scotland) Bill (the Bill) was introduced by the Scottish Government to Parliament on 22 November 2022. The Bill is at Stage 1 of the parliamentary process and aims to modernise the law in Scotland governing trusts and, to a more limited extent, succession. Joseph Slane, senior solicitor at Turcan Connell, considers the main content of the Bill and the impact of reforms on Scots trust law and practitioners.

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