We reviewed a couple of trust deeds recently for a new client.
One deed was validly executed and was effective to change the trustee, but it also tried to appoint new guardians and appointors, but failed to do so. This is because the current appointor and guardian is appointed for life, and can only nominate a successor who takes over on his death. There is no power given to the appointor or guardian to nominate successor during their lifetime. The deed also tried to amend the deed, but there is no power to amend the deed.
However, there is a power to give the trustee extra powers. That power should have been exercised first, to give the trustee the power to vary the trust deed provisions. Then the variations could be made to allow the appointment of new appointor and guardian.
The client now wants us to rectify the deeds and prepare new Wills, EPAs and EPGs, so the review which we carried out for free paid off.
For review of trust deeds and variations thererof, see Michael Paterson & Associates