Trust Series 2025 – Variation of Trusts

Explore the powers, processes, and pitfalls of trust variation—gain practical insights into beneficiary changes, vesting extensions, and key court decisions in this expert-led session

As set out in Re The Trustee Company, EF and GH [2025] NZHC 653 at [49]:

The Trustees consider the removal of spouses as a class of beneficiaries would be in the best interests of the wider family. They say there are increasing risks of relationship property litigation in the trusts space and if the beneficiary list is limited to the immediate family, it could save the Trusts time and cost associated with such litigation. …. On balance, the Trustees consider this is a significant benefit to the family, outweighing any detriment to future spouses. Once again, the situation is that if no action is taken, the Trusts will both vest by default in the Children in August 2025 and future spouses would not be beneficiaries in any event.

This webinar will educate on the mechanics and options for variation with particular attention to variations of trust that will amend the classes of beneficiaries or extend the vesting day.

HIGHLIGHTS
After a careful exploration of the different ways trusts can be varied the webinar will critically assess key court decisions regarding variation and related considerations.

Topics covered will include:

• Powers of variation in trust deeds
• Variation pursuant to the rule in Saunders v Vautier
• Variation with the assistance of the Court
• Mechanics of variation
• Tips and traps
• Case law up-date

The accompanying materials will include a precedent deed of variation and precedent trustee resolutions.

WHY ATTEND
All trusts are not created equal. Accordingly, the consequences and process of variation require careful consideration.

LEARNING OUTCOMES

Attendees will learn:

• how and when a trust can be varied pursuant to the terms of the trust
• limitations on powers of variation, and
• the parameters of variation with the assistance of the court 

SUITED TO

This webinar is targeted at all practitioners with a good knowledge of trust law who are looking to develop a broader appreciation of the mechanics of and options for the variation of trusts.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited

Vicki is a director at Vicki Ammundsen Trust Law. Vicki's approach to trust law is practical but also grounded in a good understanding of trust law principles, related legislation, and case law. As the author of a number of texts including Taxation of Trusts, the Trustee's Handbook and Trustee Liability, Vicki is well placed to provide advice on all areas of trust law.