Nautilus Trustees -v- N and Ors [2007] JRC 223C (28 November 2007)

Nautilus Trustees -v- N and Ors [2007] JRC 223C (28 November 2007)

The Court approved all three categories of amendment, finding them reasonable, in line with the settlor's intentions, and in the best interests of the beneficiaries. The amendments reflect practical administration needs and maintain appropriate family involvement and professional management.

Citation
[2007] JRC 223C
Parties
Trustee/applicant: Nautilus Trust Company Limited; Settlor: JWN; Wife/beneficiary: C; Protector: Advocate Richard Pirie; Representative of Minor and Unascertained Beneficiaries: Advocate Begg
Jurisdiction
Jersey
Judgment Date
28 November 2007
Procedural Posture
Representation by Trustee for Court Approval / Application for Approval of Proposed Exercise of Power of Amendment
Outcome
application granted
Legal Topics
Variation of Trusts, Powers of Amendment, Protector's Powers, Remuneration of Protectors, Fiduciary Duties
Trusts Private Client Variation of Trusts Powers of Amendment Protector's Powers Remuneration of Protectors Fiduciary Duties

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Parties

Nautilus Trust Company Limited

Trustee/applicant

JWN

Settlor

C

Wife/beneficiary

Advocate Richard Pirie

Protector

Advocate Begg

Representative of Minor and Unascertained Beneficiaries

Procedural Posture

Representation by Trustee for Court Approval / Application for Approval of Proposed Exercise of Power of Amendment

Legal Issues

  1. 1 Whether the trustee may exercise the power of amendment under clause 13(1) to alter the trust deed in the proposed manner
  2. 2 Whether the proposed amendments are reasonable and in the interests of the beneficiaries
  3. 3 Whether the Court should approve the exercise of the power as a momentous decision

Ratio Decidendi

The Court approved all three categories of amendment, finding them reasonable, in line with the settlor's intentions, and in the best interests of the beneficiaries. The amendments reflect practical administration needs and maintain appropriate family involvement and professional management.

Court Disposition

application granted

Orders

  • All three categories of amendment to the trust deed are approved.
  • Costs of all parties to be paid out of the trust fund.