By definition, a settlor places great trust in his trustee when he gifts his assets to them, to look after them in the best interests of the existing and future beneficiaries in line with the objectives and intentions which he has expressed in the trust deed and any accompanying letter of wishes.

Trust structures are usually intended for the long term, and often designed to run on after the death of the settlor. However, the world changes…trust businesses change ownership or merge, or withdraw from certain markets; individual relationship managers come and go; regulatory and fiscal regimes change, w...