Unfortunately, they may not provide sufficient flexible powers to enable the trustee to adapt to unforeseen circumstances.
The unforeseen circumstances may be:
A change in the settlor’s business, investment objectives and strategies
A marriage breakdown of the settlor or a beneficiary
Disputes involving beneficiaries a change in the settlor’s or a beneficiary’s financial circumstances
A change in residence or domicile of the settlor or beneficiaries or location of trust assets
A change in tax or other laws applying to the settlor or one or more beneficiaries
A commercial trust was established for certain purposes which have been fulfilled but there is now a desire to apply the trust fund for different purposes.
