VARIATION OF TRUSTS
15/04/2011
In some Wills and trusts the provision made is not as tax efficient or beneficial as was perhaps intended at the time it was executed. This is often due to changes in the law or the circumstances of the beneficiaries since the preparation of the Will or trust.
Whilst Deeds of Variation are one way of remedying a Will which would benefit from a change it is only possible to undertake such a Deed if all the people affected by the variation are adult and of full capacity. Where minor, unborn or unascertained beneficiaries might be affected by the change it is not possible to proceed without an application to court under the Variation of Trusts Act 1958.
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