The deceased settlor reserved a benefit in a property and in a bank account, which was each held in separate discretionary trusts in the seven years prior to his death, and consequently, the value of the assets in the trusts, valued at the date of his death, fell to be taken into account when calculating IHT on his death estate. 

Summary 

The deceased settlor had reserved a benefit in a property and in a bank account, which was each held in separate discretionary trusts in the seven years prior to his death, and consequently the value of the assets in the trusts, valued at the date of his death, fell to be taken into account when calculating inheritance tax (IHT) on his death estate. 

Background 

On 16 February 2000, an individual (who died on 26 February 2017) had signed two trust deeds. The first concerned funds in an Abbey National bank account (which was later transferred to