variation of trust

variation of trust

change in the operation of a TRUST. It is the duty of a TRUSTEE faithfully to carry out the terms of the trust and to give effect to the beneficial interest thereunder. It is possible, however, for the trusts to be varied either by the beneficiaries themselves or pursuant to an application to the court under the Variation of Trusts Act 1958. For a variation by the beneficiaries themselves to be possible, there must be an agreement to that end by all the beneficiaries, and those beneficiaries must all be of full age and capacity and their entitlements must in aggregate amount to the entire beneficial interest under the trust. It follows from this that where a beneficiary, by reason of infancy or other incapacity, is unable to assent to the proposed arrangement, the rule cannot apply. In such a case an application may be made to the court under the Variation of Trusts Act. The court may approve the arrangement if it is of the opinion that it is for the benefit of the beneficiaries who lack the capacity to assent.
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Table 5 shows how much the system is affected in scenarios with attackers, evaluating the variation of trust values calculated by nodes.
Geared toward the study of English law in a Bachelor of Laws (LLB), postgraduate, or conversion course, this work contains 13 chapters discussing equity and trusts, the creation of express private trusts, purpose trusts, constitution of trusts, secret trusts, protective and discretionary Trusts, Resulting Trusts and Constructive Trusts, Charitable trusts, the nature of trusteeship, the duties of the trustees, the power of trustees, variation of trusts, breach of trust and remedies.
Several have also enacted the equivalent of England's Variation of Trusts Act 1958 and a smaller group has enacted the Trustee Investments Act 1961 and the Perpetuities and Accumulations Act 1964.

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