I have an estate which is leaving 10% to charity combining two components of a life interest trust with the estate to get the 36% rate. The two elements are sizeable and the legacy is payable from the estate
"I give the Charity… such a sum as together with any other gifts to charity made under my Will or any codicil shall constitute a donated amount equal to 10% of the baseline amount in relation to the aggregate of the general component and survivorship component and settled property component and reservation of benefit property of my estate.”
We do not have probate yet and my clients are keen that the charity get the money as soon as possible. They have suggested appropriating some of the trusts share portfolio (£700k) to the charity and paying the rest once we get probate. Presuambly these would be shares with the most gain but this is not their main motivation. The charity is entitled to receive the sum which was 10% at date of death.
I have a niggle as to whether they can do this. I can see an argument for both sides.
Can they do this?