Description

Understand the true cost as we explore key court decisions related to variation of trusts under the Trusts Act. Learn about the mechanics, options, and considerations for varying trusts, whether pursuant to trust terms or with court assistance

Trusts are routinely varied. However, each variation will turn on its own facts.

As stated in Re Candida Trust:

[29] The Court has exercised its powers under s 125 in a number of cases to waive  interests of beneficiaries in circumstances that are similar to those here.  Like here, the cases enabled variations of trusts in the interests of beneficiaries with significant interests and without the need for involvement on the part of those whose interests were remote and, essentially, redundant.

This webinar will educate on the mechanics and options for variation with consideration given to variation:

• pursuant to the terms of a trust, and
• when required, with the assistance of the Court.

HIGHLIGHTS
The webinar will canvas and critically consider key court decisions with respect to variation of trusts since the introduction of the Trusts Act. The webinar will also consider variation pursuant to trust terms.
The accompanying materials will include a precedent deed of variation and precedent trustee resolutions.

Topics covered will include:

• Powers of variation in trust deeds
• Variation pursuant to the rule in Saunders v Vautier
• Variation with the assistance of the Court
• The difference between a waiver pursuant to s 125 of the Trusts Act compared with consent pursuant to s 124 of the Trusts Act
• Mechanics of variation
• Tips and traps
• Case law up-date

WHY ATTEND
All trusts are not created equal. Accordingly, the consequences and process of variation require careful consideration.

ORIGINAL BROADCAST DATE

28 August 2024

LEARNING OUTCOMES

Attendees will learn:

• how and when a trust can be varied pursuant to the terms of the trust
• limitations on powers of variation, and
• the parameters of variation with the assistance of the court 

SUITED TO

This webinar is targeted at all practitioners with a good knowledge of trust law who are looking to develop a broader appreciation of the mechanics of and options for the variation of trusts.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.

Vicki is a director at Vicki Ammundsen Trust Law. Vicki's approach to trust law is practical but also grounded in a good understanding of trust law principles, related legislation and case law. As the author of a number of texts including Taxation of Trusts, the Trustee's Handbook and Trustee Liability, Vicki is well placed to provide advice on all areas of trust law.