You, the Grantor, are also the initial Protector of your Model Offshore Trust.
As Protector, you are the primary source of information and guidance for the Trustee, helping the Trustee exercise its discretion in accordance with your intentions as Grantor. You have the authority to consult with the Trustee on any matter relating to the Trust, including investment management and the settlement of benefits on members of the Beneficiary Class.
All aspects of a Model Offshore Trust are subject to monitoring by the Protector.
As Protector, you have a power to require the Trustee to resign in favor of another independent trustee if you ever find the Trustee’s performance unsatisfactory. Because the Trustee is in the business of being a trustee, it presumably would not want to be replaced. Thus you have a high degree of assurance that the Trustee will weigh your advice carefully and that in exercising its discretion the Trustee will give the fullest consideration to your recommendations.
You have certain other powers as Protector, including the power to pass on your authority as Protector to your spouse, your children or other successors you designate. The Trustee will notify your designated successor when he becomes the new Protector. (You continue as Trust Protector for the rest of your life or until you resign.)
The powers of the Protector, including your power to remove the Trustee, are explained more fully in…
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