Deceased died almost 2 years ago leaving estate of £700k including a house to her brother. Brother, living in this house, has sufficient resources of his own (falling within his own NRB) so executed a DOV a couple of months ago of the whole of his entitlement under his late sister’s Will in favour of a discretionary trust of which he, his niece and nephew and their issue, are beneficiaries. He has since died before assets have been transferred to the trustees.
Rather than constituting the trust and then winding it up, can the trustees appoint their rights under the DOV to discretionary beneficiaries using s144? Or does this have adverse tax consequences?