When can a beneficiary of a trust vary or terminate the trust?

Prior to the enactment of s. 59, an individual who was of full age and of sound mind, and who was the sole beneficiary of a trust, could vary or terminate that trust. Similarly, two or more individuals, all of whom are of full age and of sound mind, and who constitute the only beneficiaries of a trust, could agree among themselves to vary or terminate the trust. The right of a beneficiary or beneficiaries to vary or terminate became known as the rule in Saunders v. Vautier (1841), 4 Beav. 115, 49 E.R. 282, in which the rule found expression. Unanimity was required, except that the court could consent on behalf of beneficiaries who were minors or otherwise lacked capacity or who were as yet unborn, so long as the arrangement was for the benefit of those beneficiaries.