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Variation of Trusts Act 1958

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SQE Video Library – Equity and Trusts - Variation of Trusts

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UOLLB Equity and Trusts

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From Verdi’s Aida (Act II) with the Boston Youth Symphony Orchestras

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Highlights: Reforming Probation and Parole to Promote Success

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Is there a time limitation to make a claim against the granting of probate or letter of admin?

The Variation of Trusts Act 1958 is an Act of the Parliament of the United Kingdom that governs the courts' ability to vary the terms of trust documents. Prior to the 1950s, the courts were willing to approve "compromise" agreements as to what terms meant, not only when they were disputed but also for the benefit of certain parties, such as minors. In 1954, the House of Lords decided in Chapman v Chapman that this would no longer be permitted, creating a gap between the rights of trusts under the Settled Land Act 1925 and those trusts that were not. As a result, following a report by the Law Reform Committee, Petre Crowder introduced the Variation of Trusts Bill to Parliament, where it was given the Royal Assent on 23 July 1958, and came into force as the Variation of Trusts Act 1958.