Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Trust definition

What does Trust mean? A trust is a legal arrangement in which one or more trustees hold and manage property (the trust property) for the benefit of beneficiaries. It is primarily defined by case law rather than a single statute, though key rules appear in legislation (for example, writing requirements and trustee powers). Trusts arise by express declaration (usually by a settlor), by operation of law (resulting or constructive trusts), or under statute, and are used in private client, commercial, pension and charitable contexts. Core features include: the trustee’s fiduciary duties to act loyally, prudently and in accordance with the trust terms; control...

England and Wales: Variation of nuptial/relevant settlements and trusts—definition, court powers, procedure, international issues, and Prest v Petrodel implications

Published by a LexisNexis Family expert

Practice notes

This Practice Note

This Practice Note explains when a settlement will be treated as nuptial under section 24(1)(c) of the Matrimonial Causes Act 1973 (MCA 1973), or as ‘relevant’ for the purposes of Schedule 5, Part 2 to the Civil Partnership Act 2004 (CPA 2004). It examines the court’s jurisdiction to alter a nuptial or relevant settlement and the associated practice and procedure. It also outlines the court’s approach, particular issues concerning international trusts, and pertinent case law, including the Supreme Court decision in Prest v Petrodel Resources. A nuptial (marriage) or relevant (civil partnership) settlement is one established for the benefit of one or both parties, or their children, and made in contemplation of, or during, their marriage or civil partnership. The courts have adopted a broad construction of the expression; see: What is a nuptial settlement? The court may make a variation of settlement order (a form of property adjustment order) in respect of a nuptial or relevant settlement, including a trust, on or after the making of a divorce, dissolution, judicial separation, separation or nullity order. The court can also order a variation of settlement to provide...

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Rebecca Dziobon

Penningtons Manches Cooper

Rebecca is an experienced family lawyer having trained and worked on complex financial and children matters at both City and regional firms for ten years. In 2011 she was nominated for, and appointed as, a member of the Resolution Pensions, Tax and Property Committee. She has authored the LexisPSL Family sections on pensions, insurance and trusts since 2013. In 2015 Rebecca moved into a knowledge lawyer role and is now senior knowledge lawyer at Penningtons Manches LLP. She is responsible for equipping the family team with the best tools to provide excellent client service. She also works collaboratively across the wider firm to devise and deliver business improvement initiatives ...

Web page updated on 21/05/2026

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