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’...
Russell Clark and Paula Fry discuss the Royal Court of Guernsey’s guidance on the applicable test for the removal of a protector in Re the K Trust ‘The court was satisfied that, on the facts, there was more than personal hostility between the protector and the widow and that the breakdown in relations was having …
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Manx case IFG International v French clarifies the extent to which trust protectors can be indemnified out of trust assets. Seth Caine explains ‘Counsel for the trustees had argued that any indemnity to which Mr French was entitled as a former protector was limited, and related only to any costs and liabilities incurred by Mr …
Continue reading "Trust Protectors: Obligation to indemnify?"
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