Question
Can you provide the section in legislation that relate to the following: The Court's ability to vary trust terms in Australia is limited by the
Can you provide the section in legislation that relate to the following: The Court's ability to vary trust terms in Australia is limited by the principle of certainty, a key aspect of trust law ensuring trustees know their duties. Unlimited Court power to alter trust terms could undermine this principle.
Additionally, the Court must respect the settlor's intentions, as altering trust terms too freely could disregard these intentions, contrary to trust law principles.
However, under the Variation of Trusts Act 1958, the Court can vary trust terms in certain situations, such as for the benefit of minors, unborn beneficiaries, or those unable to consent. For example, if a trust for grandchildren includes one with a severe disability, the Court might approve a variation to allocate more resources to that grandchild, benefiting a beneficiary who cannot consent.
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