THE PROFESSIONAL PROTECTOR GROUP
We seek to deliver corporate professional protector services as we believe that a corporate protector is infinitely superior to an individual protector even if the individual is serving in a professional protector capacity.
Corporate vs individual protector
Individual protectors will have their own prejudices and can also act in their own interests rather than in the interests of trust and private foundation beneficiaries. Most are of advanced age, which means they are likely to die sooner rather than later, and they can also suffer from deteriorating mental capacity. It has often proved to be extraordinarily difficult to remove a mentally incompetent protector if that person refuses to resign.
We avoid these issues by having corporate professional protectors, as our corporate protector entities will usually have at least two directors. The lead director will also likely be of advanced age but there will also be a younger director who is also trust and/or private foundation experienced. Should the lead director become mentally incompetent then he can be removed by the corporate protector’s shareholder meaning that the second director would then become the lead director.
At least two directors
With the philosophy of always having at least two directors, and with the 2nd director always being younger than the first, it can be envisaged that our corporate protectors can fulfil the functions of a professional protector for many years to come.
Indeed, our corporate protectors have the potential to last as long as any trust and/or foundation that they provide professional protector services to even if those entities remain in existence for hundreds of years, which is entirely possible with the laws governing trusts and private foundations today.
We also operate our protector companies from onshore or midshore jurisdictions, while most individual professional protectors are resident in offshore jurisdictions and that can create tax issues for trust and private foundation beneficiaries.