chapter  17
7 Pages

VARIATION OF A TRUST

Variation under the Variations of Trusts Act 1958 Re Suffert (1961) Consent cannot be sought on behalf of persons who are not within s 1 of the Variation of Trusts Act. If they do not give their consent or cannot be found the trust cannot be varied Knocker v Youle (1986) The court cannot give consent on behalf of benefi ciaries who were outside s 1(1)(b) who had existing benefi cial interests The meaning of benefi t Re Weston’s Settlement (1969) Benefi t was not restricted to fi nancial benefi t. Social benefi ts could be seen as more important Re Holt’s Settlement (1969) Re Remnant’s Settlement Trusts (1970) The settlor’s wishes and the purpose of the trust Goulding v James (1997) The settlor’s wishes are not relevant to the decision of the court in a variation of trust application Re Steed’s Will Trusts (1960) Re T’s Settlement Trust (1964) Wyndham v Egremont (2009) Ridgwell v Ridgwell (2007)

Key Facts If all the beneficiaries are sui juris and in agreement and together have absolute entitlement, they have power to terminate the trust and demand that the fund be handed over to them.