Postby AnthonyR » Tue Jul 10, 2018 12:33 pm
Trustees owe a fiduciary duty and must act in the best interests of the beneficiaries. However, that doesn't stop an individual who is suddenly given control of vast sums of money from 'doing a runner' (technical term). On top of this, in order for the trust to be offshore the trustees need to be offshore as well and if the settlor is UK resident it's likely to result in bringing the trust into the UK trust regime.
That's why there is a considerable trustee business in offshore jurisdictions such as the channel islands (other islands are available), where such roles tend to be regulated, controlled, insured and taken very seriously.
If it's a sizeable sum, I'd suggest researching some professional trustees who provide this service for high net worth clients.