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.