My client is holding funds which were raised by a variety of fundraising events for the benefit of her son, who was suffering from cancer but has now unfortunately passed away. It is now not clear how the funds should be treated.
Could this be classed as a charitable trust and the funds now applied for a similar purpose, or would this be deemed a failed purpose trust with the funds now held on resulting trust for the donors? Alternatively, would the donations be classified as gifts to the deceased meaning the funds now fall into his estate?
Any help would be appreciated.
Tom Payne
Attwaters Jameson Hill