In January of this year, the Settlor signed the paperwork in connection with a Discounted Gift Trust into which he intended to place the sum of £250,000.
He died two weeks later and before his advisers had been able to release assets from his other investments to populate the trust.
Are the Trustees able to claim that the outstanding monies are due to them from the estate, allowing the executors to include this sum as a liability of the estate?
Or does the fact that the Trust was not populated as at date of death mean that the gift fails?
This is relevant as the reduction in the value of the estate would enable a claim for the Residence Nil Rate Band to be made.
Jobling Gowler Law Ltd