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(p. 721) 15. Variation of Trusts 

(p. 721) 15. Variation of Trusts
(p. 721) 15. Variation of Trusts

Paul S Davies

, Graham Virgo

, and E H Burn

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PRINTED FROM OXFORD LAW TROVE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Law Trove for personal use (for details see Privacy Policy and Legal Notice).

date: 18 September 2019

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter shows how a variation of trust occurs in cases where all the beneficiaries of a trust are of full age, under no disability, and in agreement to terminate the trust and resettle the trust property on a new trust, varying the original trust. In cases of necessity, the court has an exceptional inherent jurisdiction to vary a trust. The Variation of Trusts Act 1958 enables the court to consent to the variation of a trust on behalf of certain actual or potential beneficiaries who are unable to consent to the variation. The Act enables the revocation of an existing trust and establishment of a new trust, but only where the new trust can be regarded in substance as similar to the old trust.

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