Representation of Novatrust Limited re Helford Trust (Royal Court : Hearing (Civil) : MacRae : Trust) [2026] JRC 010 (9 January 2026)

Representation of Novatrust Limited re Helford Trust (Royal Court : Hearing (Civil) : MacRae : Trust) [2026] JRC 010 (9 January 2026)

Clause 9 of the Trust Instrument prevents the Settlor from releasing his power to revoke the Trust under Clause 22. The Settlor is not a beneficiary for the purposes of Article 10A and cannot disclaim his power to revoke under that provision. The Court approved the variation deleting Clause 9, as it was for the benefit of the beneficiaries, allowing the Settlor to release his power to revoke and enabling the Trust to qualify as an irrevocable fixed interest trust for Swiss tax purposes.

Citation
[2026] JRC 010
Parties
Trustee: Novatrust Limited; Settlor: Settlor (name anonymised); Protector/beneficiary: P (Settlor's son); Beneficiaries: P's wife and children; Excluded Beneficiaries: Other adult children of Settlor and their children
Jurisdiction
Jersey
Judgment Date
09 January 2026
Procedural Posture
Representation (trust Variation) / Judgment on Application for Variation of Trust
Outcome
Application granted
Legal Topics
Variation of Trusts, Construction of Trust Instruments, Beneficiary Rights, Tax Mitigation, Powers of Revocation
Trusts and Estates Private International Law Tax Law Variation of Trusts Construction of Trust Instruments Beneficiary Rights Tax Mitigation Powers of Revocation

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Parties

Novatrust Limited

Trustee

Settlor (name anonymised)

Settlor

P (Settlor's son)

Protector/beneficiary

P's wife and children

Beneficiaries

Other adult children of Settlor and their children

Excluded Beneficiaries

Procedural Posture

Representation (trust Variation) / Judgment on Application for Variation of Trust

Legal Issues

  1. 1 Whether Clause 9 of the Trust Instrument prevents the Settlor from releasing his power to revoke the Trust under Clause 22
  2. 2 Whether the Settlor can disclaim his power to revoke under Article 10A of the Trusts (Jersey) Law 1984
  3. 3 Whether the Court should approve a variation deleting Clause 9 to permit the Settlor to release his power to revoke

Ratio Decidendi

Clause 9 of the Trust Instrument prevents the Settlor from releasing his power to revoke the Trust under Clause 22. The Settlor is not a beneficiary for the purposes of Article 10A and cannot disclaim his power to revoke under that provision. The Court approved the variation deleting Clause 9, as it was for the benefit of the beneficiaries, allowing the Settlor to release his power to revoke and enabling the Trust to qualify as an irrevocable fixed interest trust for Swiss tax purposes.

Court Disposition

Application granted

Orders

  • Variation of the Trust Instrument by deletion of Clause 9 approved under Article 47 of the Trusts (Jersey) Law 1984.
  • Trustee authorised to implement consequential steps to ensure the Trust qualifies as an irrevocable fixed interest trust for Swiss law purposes prior to 30 November 2025.