TRUSTS; APPROVAL OF VARIATION OF TRUST ON BEHALF OF INOR AND UNBORN BENEFICIARIES; REVERSAL OF PREVIOUS IRREVOCABLE EXCLUSION OF SETTLOR; BLESSING OF MOMENTOUS DECISION

Representation of Affinity Trust Limited re V Trust [2026] JRC221

The Court approved on behalf of minor and unborn beneficiaries a variation of trust whereby the settlor, previously irrevocably excluded as a beneficiary, could be re-admitted. The Court then blessed a proposed distribution to him by the trustee of a substantial part of the trust fund. On the facts, this arrangement was of benefit to those for whom the Court was consenting because it enabled the family’s assets to be held in a more tax-efficient manner. In its judgment the Court usefully outlined the salient principles for an Article 47 approval of a variation of trust on behalf of minors etc and, as a separate matter, for a blessing a trustee’s momentous decision.

Bridgeford A, WDJL, 10 – 16 August 2026