VARIATION OF TRUSTS IN ENGLAND AND CANADA

Abstract

In this article, the author details the nature and operation of the rules governing the variation of trusts. The author begins with a historical overview of the development of inherent jurisdiction, noting the traditional limitations that inhibited trust variation. The article follows with a critical analysis of early legislation enacted in an attempt to broaden the ability of a beneficiary to vary a trust in order to maximize benefit. The author concludes with an analysis of the Variation of Trusts Act of 1958, passed in England and various Canadian provinces, which he suggests is an effective tool for modifying trusts.