T has left the Nil Rate Band into a pilot discretionary settlement. Everyone wishes to wind up and ideally advantage would be taken of s142 to read back to will - for this Trustees would need to be able to vary or disclaim. Of course the settlement has no express power to do either. Can the trustees do either under the general law ? - seems to me this would be at variance with their duty to act in best interests of the trust. The discretionary nature of the settlement and unborn beneficiaries etc would render an indemnity from the beneficiaries impossible and an application to the court expensive with uncertain outcome. The settlement provides that the trustees “may” accept further receipts to the settlement - can this imply that they have a power to disclaim any gift which is made to the settlement ?