Variation of Trusts

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There are certain cases where the terms of a trust may need to be changed.

Variation of Trusts

A trustee of a testamentary trust must carry out the terms of the Trust as set out in the written document. However, there are certain circumstances when the beneficiaries of a Trust may require a variation in those terms. For instance, the original rationale for a certain term may cease to exist, or the investment climate or tax rules have changed and advice is given on the structure of a trust which could result in benefits to all beneficiaries.

In these cases, if all beneficiaries are of legal age and capable, they may agree to change a trust’s terms. But when there are contingent beneficiaries or beneficiaries that are minors or under a legal disability, a court will need to approve the changes. Either a beneficiary or a trustee may apply to the court to vary terms of a trust.

Our Practicing Lawyers
Lisbeth Hollaman

Lisbeth concentrates her practice in the areas of will challenges, estates & trusts litigation, guardianship appointments & capacity litigation, estate & guardianship accountings, and dependant support claims. Litigating since 1988, Lisbeth brings her extensive experience and pragmatic approach to helping her clients resolve their estate, trust, and capacity disputes.

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Lisbeth Hollaman

Areta Lloyd

Areta focuses her law practice on estates, trusts and capacity litigation. Areta helps de-escalate conflict, so that clients can focus on their health and family. When situations escalate, Areta is a strong, capable advocate.

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Areta Lloyd

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