ABSTRACT
How is an initial trustee appointed? How are subsequent trustees appointed? When may a trustee retire? How is a trustee removed? When may a trustee be remunerated? What is meant by a trustee’s fiduciary duty? What principles must be taken into account when a trustee makes investments? What is meant by a power of maintenance? When may the statutory power of maintenance be exercised? When does an interest carry the intermediate income? What is meant by a power of advancement? When may a statutory power of advancement be exercised? Describe the statutory power of delegation by a trustee Variation of Trusts When may the court vary a trust under its inherent jurisdiction? When may the court sanction a variation under the Variation Act 1958? What is meant by ‘benefit’ in this context? What weight is given to the settlor’s intention?
