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According to section 10 of Indian Trusts Act 1882 states that Every Person capable of holding property may be a trustee; but, where the trust involves the exercise of discretion, he cannot execute it unless he is competent to contract.
Subject to the trust instrument, the protector can be any person(s) or entities, but should not also be a trustee.
A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients interests ahead of their own, with a duty to preserve good faith and trust.
Trustees differ from trust protectors because of their fiduciary duty to follow the rules outlined in the trust. A trust protector could have the ability to change a trust document as a trustee may not. This will be outlined in the trust document and also depend on where the trust situs is.
Delaware statutory trusts are formed as private governing agreements under which either (1) property (real, tangible and intangible) is held, managed, administered, invested and/or operated; or (2) business or professional activities for profit are carried on by one or more trustees for the benefit of the trustor
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The DST Act does require that the trust have a Delaware resident trustee, but business decisions and management of the trust may be (and in the context of a structured finance transaction, typically are) delegated to out of state co-trustees and managers.
The fiduciary is responsible for collecting, appraising and having an inventory of the estate; paying bills, taxes and other expenses belonging to the decedent; and transferring property based on the will or the law. Being a fiduciary is a major responsibility and can be difficult.
Oshins as of 2021. South Dakota. South Dakota is the top-ranked state for trust decanting, as its statute allows for the most flexibility in trust decanting provisions. Nevada. The Silver State is almost tied for first place with South Dakota as the top-ranked state for trust decanting. Delaware. Tennessee.
Delaware Trust Advantage Delaware law holds that the creator of a trust has the legal right to control the investment, management and trust distribution decisions of trusts he or she creates. Trustors can define the rights of beneficiaries and determine the duties, powers and standards of a fiduciary.
A Fiduciary refers to any individual acting on behalf of another, and in Estate Planning this often means in a legal capacity. An Executor, on the other hand, is a much more narrow responsibility. Executors can only act on the terms laid out in a Will.

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