Like many struggling with the Trust Register and the frustration of an ill-managed scheme which is putting us all under considerable pressure to register existing trusts in a short time frame. Hours wasted in getting over the first hurdle to gain access to the register and now even more hours lost in the registration process.
Not sure about who to record as the settlor where a Discretionary Trust arises as a result of a Deed of Variation which re-directed an absolute gift to the deceased’s son to one where the deceased’s son was included amongst the potential beneficiaries to the DT. The Settlor for IHT purposes would I think be the deceased but for other tax purposes the settlor would be the son. I have assumed that the settlor for the purposes on the Trust Register is the son who concluded the deed of variation. Is this correct?