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TSEM6351 | Legal Background to Trusts and Estates: Varying the terms of a trust

From HM Revenue & Customs · Trusts, Settlements and Estates Manual

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.