TSEM6351 - Legal background to trusts and estates: varying the terms of a trust

Sometimes trustees may choose to vary the terms of a trust. All those with an interest that is affected must agree the changes. The courts must sanction the proposal if it could affect the interest of

• minors, or
• persons unborn, or
• beneficiaries, who the trustees cannot at that time, ascertain.

The court can vary the terms of the trust to meet special circumstances, like a divorce.