Nature of Trustees’ and Protectors’ interests

(1) Subject to sub-section (2)– (a) the interest of a trustee or protector in the trust property is limited to that which is necessary for the proper performance of the trust; and (b) the trust property does not form part of the trustee’s or protector’s estate. (2) Where a trustee or protector of a trust is also a beneficiary thereof, sub-section (1) does not apply to his interest as a beneficiary. (3) Where a trustee or protector becomes insolvent, or upon his property becoming liable to distraint, seizure, sequestration or similar process of law, his creditors shall have no recourse against the trust property except to the extent that the trustee or protector himself has a claim against it or a beneficial interest in it.