A) Nephews and nieces, who would be entitled to an interest in remainder under a trust, but who are very numerous and are unlikely to be able to give full consent to a proposed variation.
B) Grandchildren of testator, who are beneficiaries under a protective trust.
C) The cousins of Lord Grafter, who would become entitled to the property under a trust on the death of Lord Grafter, provided he had not made an appointment to any of his sons or daughters by the time of his death.
D) Any unborn children of Lady Grayling. Lady Grayling has just celebrated her sixtieth birthday.
F) A) and B)
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A) Because Maxine is already 25, she is entitled as of right to an immediate quarter share of the fund.
B) Maxine will have to wait until Minnie is 25 before she is entitled to any capital.
C) The trustees have a discretion to pay Maxine whatever part of the trust fund they choose.
D) The trustees have a discretion to pay Maxine up to one quarter of the trust fund.
F) C) and D)
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A) Under the Variation of Trusts Act 1985.
B) With the consent of all the beneficiaries and potential beneficiaries.
C) Under an express power conferred on the protector, settlor, or other person.
D) Through the surrender of a beneficial interest by one of the beneficiaries acting alone.
F) B) and C)
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A) There is no need to use the statutory power of advancement. Eeny, being an adult, is entitled to be paid an immediate one-third share of the trust fund.
B) The trustees may advance Eeny, at their sole discretion, up to one third of the value of the trust
C) The trustees may advance Eeny, at their discretion, and with the consent of Wanda, up to one third of the value of the trust.
D) The trustees may advance Eeeny, at their discretion, and with the consent of all the other beneficiaries, up to one third of the value of the trust.
F) B) and C)
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C
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A) Because a beneficiary who consents to a breach of trust cannot sue the trustee, it is possible for a trustee to act in a way which is not authorised by the trust instrument provided all the beneficiaries agree.
B) Because the terms of the trust instrument are binding on the trustee, no departure from those terms is possible, even if the beneficiaries consent.
C) Variations of trust require the sanction of a court of law, even if all the beneficiaries consent.
D) Variations of trust are possible with the consent only of all known beneficiaries even if there are some beneficiaries who have not consented because their whereabouts are unknown.
F) A) and D)
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A) The statutory power of maintenance allows the trustees to pay for the essentials of life only.'
B) The statutory power of maintenance would not allow the trustees to pay private school or university tuition fees.
C) The statutory power of maintenance allows the trustees to make payments directly to the minor, or to others on the minor's behalf.
D) The statutory power of maintenance does not allow the trustees to make payments to a minor's parent because of the potential for fraud.
F) A) and B)
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C
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A) Trustees can use any part of the trust fund for the purposes of paying for the maintenance of minors. The correct statement is '
B) Trustees have a discretion whether to pay income from a trust fund to an adult beneficiary.
C) The statutory powers of maintenance may be excluded by a direction in the trust to accumulate income.
D) Trustee's powers of maintenance may be only exercised on behalf of minors who have a vested interest in the intermediate income.
F) None of the above
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C
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A) Rebecca and the three children (provided they are adults) could agree that the trust should be terminated by dividing the fund into four equal shares, one share for each of them.
B) The trustees could advance part of the capital of the trust to one or more of the children, with Rebecca's consent, as part of a bargain that the child or children would give Rebecca a share of what they receive.
C) Rebecca could release her life interest, and the protector could release his right to add objects to the discretionary trust, thereby accelerating the interests of the children who, provided they are adults, could agree to the capital being shared with Rebecca.
D) Nothing can be done to give Rebecca a right to the capital.
F) B) and D)
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A) In applying the benefit requirement under the Variation of Trusts Act 1958, the courts have taken the view that a resettlement can never be for the benefit of beneficiaries on whose behalf it is asked to give consent.
B) In applying the benefit requirement under the Variation of Trusts Act 1958, the courts have taken the view that only financial benefits are relevant.
C) In applying the benefit requirement under the Variation of Trusts Act 1958, the courts have taken the view that it can never be for a beneficiary's benefit to have their right to receive payment of an interest deferred.
D) In applying the benefit requirement under the Variation of Trusts Act 1958, the courts have taken the view that a trust can never be moved outside the jurisdiction of the English courts.
F) A) and C)
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A) Helping a beneficiary with a deposit on their own home.
B) Helping a beneficiary with living costs while at university.
C) Paying the debts of a minor beneficiary's parent.
D) Making a charitable donation on behalf of a beneficiary to a cause which that beneficiary supports.
F) B) and C)
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