The landscape in relation to trusts has changed significantly in recent years and, adding to the complexity, is the Trusts Act 2019 which came into force on 30 January 2021. The changes have prompted clients and advisers to review their trust arrangements. Where trusts are to be retained, there is often a need to update the trust deed to ensure consistency with the legislation and to account for changes in circumstances. This module will adopt a practical “how to” approach that will assist you in varying trust deeds to effectively meet your clients’ needs and to account for the changes made by the Trusts Act 2019.

This module will cover:

• Common modifications which are being made as a result of the Trusts Act 2019
• How to vary a trust deed, whether by exercise of powers under the deed or by use of the statutory powers in the Trusts Act 2019, and recent case examples
• Issues that may arise when varying a trust.

Learning objectives

By completing this module you will:

• Be able to identify where changes can and should be made to a trust deed to account for changes in the legislation and practice.
• Know how to make those changes, whether by exercise of powers under the deed or legislation and where the court’s assistance may be required.
• Be able to identify risks and advise clients of the implications of significant variations.