Description

Trusts are routinely varied. While variation is routine, or perhaps because it is, errors are common, with consequences that can live on, regardless of what might have been intended.

This webinar will educate on the mechanics and options for variation with consideration given to variation pursuant to the terms of a trust, variation by consent of all of the beneficiaries, variation pursuant to the Trusts Act and the High Court’s inherent jurisdiction.

HIGHLIGHTS
This webinar, which will conclude with a question and answer section, will consider the different ways in which a trust can be varied. The materials will include a precedent deed of variation and precedent trustee resolutions.

Topics covered will include:

• Powers of variation in trust deeds
• The requirements for settlor consent and advice to settlors
• 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
• The line between variation and resettlement
• 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

6 September 2023

LEARNING OUTCOMES

Attendees will learn:

• The mechanics of the variation of trusts
• The difference between variation and resettlement
• Variation pursuant to the Trusts Act 2019, and
• Variation pursuant to the High Court’s inherent jurisdiction

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 and consequences of variation and resettlement.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.