Trust Variation for Minors – High Court Holds Sway
13th June, 2018Setting up family trusts with minors or those with mental incapacities as beneficiaries is by no means uncommon and it sometimes occurs that such trusts need to be varied for one reason or another. The mechanism for this is the Variation of Trusts Act 1958, which allows the beneficiaries of a trust to vary its terms if they all agree. Where a beneficiary is unable to give such agreement (as is the case for minors and those with a mental incapacity), the variation must be referred to the court. A...