1999/57 - N and N Spread Trustees Company Ltd and Ors [1999] UR 57 (25 March 1999)

1999/57 - N and N Spread Trustees Company Ltd and Ors [1999] UR 57 (25 March 1999)

The Court approved the variation because it was satisfied, on the evidence and arguments presented, that the proposed arrangement was for the benefit of the minor beneficiaries, considering both financial and social factors, and that the arrangement fulfilled the purpose of the original trust as effectively as the existing terms.

Citation
[1999] UR 57
Parties
Settlors: Mr and Mrs N; Beneficiary: Judith; Beneficiary: Steven; Beneficiary: Elizabeth; Beneficiary: Samantha; Beneficiary: Raphael; Trustee: Trustee (Guernsey-based)
Jurisdiction
Jersey
Judgment Date
25 March 1999
Procedural Posture
Variation of Trusts Application / Judgment on Application Under Article 43 of the Trusts (jersey) Law, 1984
Outcome
Application granted; variation of trust approved.
Legal Topics
Variation of Trusts, Capacity of Beneficiaries, Tax Avoidance, Benefit to Minor Beneficiaries
Trusts and Estates Private International Law Variation of Trusts Capacity of Beneficiaries Tax Avoidance Benefit to Minor Beneficiaries

Case Brief

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Parties

Mr and Mrs N

Settlors

Judith

Beneficiary

Steven

Beneficiary

Elizabeth

Beneficiary

Samantha

Beneficiary

Raphael

Beneficiary

Trustee (Guernsey-based)

Trustee

Procedural Posture

Variation of Trusts Application / Judgment on Application Under Article 43 of the Trusts (jersey) Law, 1984

Legal Issues

  1. 1 Whether the Court should approve a variation of the No. 3 Trust under Article 43 of the Trusts (Jersey) Law, 1984 on behalf of minor and incapacitated beneficiaries
  2. 2 Whether the proposed variation is for the benefit of the minor beneficiaries
  3. 3 Whether a beneficiary who is an adult under the law of his domicile but a minor under Jersey law can consent to the arrangement

Ratio Decidendi

The Court approved the variation because it was satisfied, on the evidence and arguments presented, that the proposed arrangement was for the benefit of the minor beneficiaries, considering both financial and social factors, and that the arrangement fulfilled the purpose of the original trust as effectively as the existing terms.

Court Disposition

Application granted; variation of trust approved.

Orders

  • The Court approves the proposed variation of the No. 3 Trust under Article 43 of the Trusts (Jersey) Law, 1984 on behalf of the minor beneficiaries.