Trusts—variation of a nuptial settlement
Produced in partnership with Rebecca Dziobon of Penningtons Manches Cooper
Practice notesTrusts—variation of a nuptial settlement
Produced in partnership with Rebecca Dziobon of Penningtons Manches Cooper
Practice notesThis Practice Note sets out the circumstances in which a settlement will be regarded as nuptial for the purposes of section 24(1)(c) of the Matrimonial Causes Act 1973 (MCA 1973) or ‘relevant’ for the purposes of Schedule 5, Part 2 to the Civil Partnership Act 2004 (CPA 2004). It considers the powers of the court to vary a nuptial or relevant settlement and the applicable practice and procedure. It also addresses the approach of the court, specific issues in relation to international trusts and relevant case law, including the Supreme Court decision in Prest v Petrodel Resources.
A nuptial (marriage) or relevant (civil partnership) settlement is a settlement for the benefit of one or both of the parties or their children, created in contemplation of or during their marriage/civil partnership. The term has been given a wide interpretation by the courts, see What is a nuptial settlement? The court can make a variation of settlement order (a type of property adjustment order) in respect of a nuptial or relevant settlement, including
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