The Variation and Termination of Trusts

This topic was part of the broader project on modernization of the Trustee Act. It addresses mechanisms for varying the terms of a trust. A trust is a relationship in which a designated trustee holds title to assets for the benefit of a designated person or persons who are called the beneficiaries. Sometimes trusts are created that are not adequately drafted to address changing or unforeseen circumstances. The report for this project reviewed the scope of the court’s power to approve variations of trusts and provides a framework for revision of the Trust and Settlement Variation Act.

Keywords: trusts and trustees, Trustee Act, variation and termination of trusts, Trust and Settlement Variation Act, wills, estates & life planning, disabilities, children & teens, charity, charitable gifts, taxes & finance, Trustee Act Modernization Committee