8 Apr 2021
TALIJANCICH, MALONE and M & L TRUSTEES LIMITED v TALIJANCICH & ORS [2021] NZHC 753 [8 April 2021]
- Citation
- [2021] NZHC 753
- Court
- High Court
Where a trust includes beneficiaries who lack capacity or are future/contingent within s124(2), the court must make an order under s124 approving the variation for those beneficiaries; s125 cannot be used to circumvent the s124 approval requirement, although in practice the statutory tests overlap; because the proposed variations were administrative, consistent with the settlor's intentions and did not affect vested interests, the court approved the variations under s124 and granted a waiver under s125 for adult discretionary beneficiaries.