Deed of variation of discretionary trust
This precedent is a template deed of variation of discretionary trust with optional clauses.
A discretionary trust can only be amended in writing by a deed, signed by the trustee and the appointor.
The provisions of the variation of trust clause in the discretionary trust deed should be examined to ensure that the trustee has the power to amend the discretionary trust deed. If this power is subject to conditions, the conditions should be complied with and the background amended to state that the conditions have been satisfied. A trustee cannot exercise a power to vary a trust deed if to do so would cause a conflict between its duty to the beneficiaries and its own interests.
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Document length: 4 pages
- Unit trust deed
- Deed of variation of discretionary trust
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