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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 14657
Experience:  30 years as a practising solicitor.
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Can a Scottish Trust be varied and if so, how do you go

Customer Question

Can a Scottish Trust be varied and if so, how do you go about doing this?
Submitted: 15 days ago.
Category: Scots Law
Expert:  JGM replied 15 days ago.

Thanks for your question. I am a solicitor in Scotland. What elements of the trust are intended to be varied?

Customer: replied 15 days ago.
The trust deed does not include the power to add beneficiaries and so could the trust be varied to include other beneficiaries?
Expert:  JGM replied 15 days ago.

Not without the agreement of the Trustor, ie, the person who set up the trust to start with. If he hasn’t given the Trustees power to add beneficiaries in their own discretion then the Trustees can’t do so unless there is a general power to benefit a class of beneficiaries to voter, for example unborn children. I hope that helps. Please leave a positive rating so that I am credited by JustAnswer for helping you today.

Customer: replied 15 days ago.
There is no such power. What if the person who set up the trust agrees to include more beneficiaries? Does this not have to be an application to the court in order to vary the trust deed?
Expert:  JGM replied 15 days ago.

That would have to be done by application to the court under s1 of the Trusts (Scotland) Act 1961 unless all the existing beneficiaries are over 18 and they all agree to the variation. I hope that helps. Please leave a positive rating so that I am credited by JustAnswer for helping you today.