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Court approval for a variation of trust

Section 64A of the Trustee Act 1956 provides that the Court has the power to approve proposed variations of trust on behalf of beneficiaries who cannot consent by virtue of being minors, unborn or incable.

Examples of variations that have been approved under s.64A include:

  • a variation to provide that the trustees’ powers to distribute income and capital are not limited to living beneficiaries, that is distribtions can be made to corporate beneficiaries (that are in existence rather than living)

References:

  • Rathbun and Rathbun [2013] NZHC 562

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