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HMRC internal manual

Trusts, Settlements and Estates Manual

HM Revenue & Customs
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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.