Representation of X Trustees Ltd [2015] JRC 136 (23 June 2015)

Representation of X Trustees Ltd [2015] JRC 136 (23 June 2015)

The variations to extend the trust period and grant unfettered power to accumulate income were manifestly beneficial to the minor, unborn, and unascertained beneficiaries, maintaining assets outside UK tax scope and providing flexibility in income management, thus satisfying Article 47 requirements.

Citation
[2015] JRC 136
Parties
Representor: The Trustee; Beneficiary: First Respondent; Beneficiary: Second Respondent; Guardian Ad Litem: Advocate Robertson
Jurisdiction
Jersey
Judgment Date
23 June 2015
Procedural Posture
Variation of Trust / Final Judgment
Outcome
variations approved
Legal Topics
Variation of Trust Terms, Perpetuity Period, Accumulation of Income, Benefit to Beneficiaries, Tax Planning
Trusts Tax Variation of Trust Terms Perpetuity Period Accumulation of Income Benefit to Beneficiaries Tax Planning

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Parties

The Trustee

Representor

First Respondent

Beneficiary

Second Respondent

Beneficiary

Advocate Robertson

Guardian Ad Litem

Procedural Posture

Variation of Trust / Final Judgment

Legal Issues

  1. 1 Whether the court should approve variations to the Settlement extending the trust period and granting unfettered power to accumulate income on behalf of minor, unborn, and unascertained beneficiaries under Article 47 of the Trusts (Jersey) Law 1984

Ratio Decidendi

The variations to extend the trust period and grant unfettered power to accumulate income were manifestly beneficial to the minor, unborn, and unascertained beneficiaries, maintaining assets outside UK tax scope and providing flexibility in income management, thus satisfying Article 47 requirements.

Court Disposition

variations approved

Orders

  • Extension of trust period by 125 years.
  • Trustee granted unfettered power to accumulate income.