Collins v Collins & Ors [2016] EWHC 1423 (Ch) (15 June 2016)

Collins v Collins & Ors [2016] EWHC 1423 (Ch) (15 June 2016)

The variation is approved as being for the benefit of Charley Collins, as it secures for her an absolute interest in the trust fund, replacing her previous terminable interest in income only. The arrangement is to be amended to clarify the vesting of her share at age 18 and to properly reflect the intention of the parties and the Settlor.

Citation
[2016] EWHC 1423 (Ch)
Parties
Claimant: Tracey Patricia Collins; First Defendant: Rachel Louise Collins; Second Defendant: Michael James Collins; Third Defendant: Charley Rebecca Collins (a child acting by her Next Friend Valerie Collins); Fourth Defendant: Valerie Collins; Fifth Defendant: Gillian Burgess
Jurisdiction
England and Wales
Judgment Date
15 June 2016
Procedural Posture
Variation of Trusts Act 1958 Application / Judgment on Application for Approval of Trust Variation
Outcome
Application for variation of trust approved, subject to amendments to the arrangement as directed by the court.
Legal Topics
Variation of Trusts, Interpretation of Trust Deeds, Children's Interests, Inheritance (provision for Family and Dependants) Act 1975
Trusts and Estates Family Law Variation of Trusts Interpretation of Trust Deeds Children's Interests Inheritance (provision for Family and Dependants) Act 1975

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Parties

Tracey Patricia Collins

Claimant

Rachel Louise Collins

First Defendant

Michael James Collins

Second Defendant

Charley Rebecca Collins (a child acting by her Next Friend Valerie Collins)

Third Defendant

Valerie Collins

Fourth Defendant

Gillian Burgess

Fifth Defendant

Procedural Posture

Variation of Trusts Act 1958 Application / Judgment on Application for Approval of Trust Variation

Legal Issues

  1. 1 Whether the proposed variation of trust is for the benefit of Charley Collins under s.1(1) Variation of Trusts Act 1958
  2. 2 Interpretation and effect of the 2005 and 2006 Declarations of Trust
  3. 3 Appropriate terms for vesting of trust capital in Charley Collins

Ratio Decidendi

The variation is approved as being for the benefit of Charley Collins, as it secures for her an absolute interest in the trust fund, replacing her previous terminable interest in income only. The arrangement is to be amended to clarify the vesting of her share at age 18 and to properly reflect the intention of the parties and the Settlor.

Court Disposition

Application for variation of trust approved, subject to amendments to the arrangement as directed by the court.

Orders

  • Tracey Collins to retire as trustee and concur with Gillian Burgess in appointing Valerie Collins as replacement trustee.
  • The 2005 Declaration of Trust to be varied as specified by the court to vest the children's shares absolutely at age 18.