15 Aug 2022
Re M I Clifford Trust No 2 [2022] NZHC 2015 ()
- Citation
- [2022] NZHC 2015
- Court
- High Court
The Court approved the variation because there is a negligible likelihood of further younger grandchildren who would benefit under the original deed, all living beneficiaries consent, the proposed deed contains mandatory protections (indemnity, executor/successor provisions) for any potential unborn/great-grandchildren, the variation preserves the settlor's requirement of equality and does not extinguish any vested interest; the practical and administrative benefits and likely greater utility of earlier distribution to grandchildren outweigh the settlor's desire for prolonged vesting.
- Variation of trust
- Unborn and unascertained beneficiaries
- Vesting and final distribution
- Court approval under s124
- Settlor intent