Collins v Collins & Ors

Collins v Collins & Ors

The proposed variation is for the benefit of Charley Collins as it secures for her an absolute interest in the trust fund, replacing a terminable interest in income with a vested share, and the arrangement is approved subject to amendments to the trust wording and trustee appointments.

Parties
Claimant: Tracey Patricia Collins; First Defendant: Rachel Louise Collins; Second Defendant: Michael James Collins; Third Defendant: Charley Rebecca Collins; Fourth Defendant: Valerie Collins; Fifth Defendant: Gillian Burgess
Jurisdiction
England and Wales
Judgment Date
15 June 2016
Procedural Posture
Variation of Trusts Application / Judgment on Application to Vary Trust and Approve Arrangement
Outcome
Application allowed with amendments
Legal Topics
Variation of Trusts, Interpretation of Trust Deeds, Children's Interests, Trustee Appointment
Trusts and Estates Family Law Variation of Trusts Interpretation of Trust Deeds Children's Interests Trustee Appointment

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Parties

Tracey Patricia Collins

Claimant

Rachel Louise Collins

First Defendant

Michael James Collins

Second Defendant

Charley Rebecca Collins

Third Defendant

Valerie Collins

Fourth Defendant

Gillian Burgess

Fifth Defendant

Procedural Posture

Variation of Trusts Application / Judgment on Application to Vary Trust and Approve Arrangement

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 Whether the 2005 and 2006 Declarations of Trust are effective and require rectification
  3. 3 Proper appointment and retirement of trustees

Ratio Decidendi

The proposed variation is for the benefit of Charley Collins as it secures for her an absolute interest in the trust fund, replacing a terminable interest in income with a vested share, and the arrangement is approved subject to amendments to the trust wording and trustee appointments.

Court Disposition

Application allowed with amendments

Orders

  • Tracey Collins to retire as trustee and Valerie Collins to be appointed as replacement trustee with Gillian Burgess.
  • The 2005 Declaration of Trust to be varied by deleting the words from 'for so long as' until 'me absolutely'.