Where the testator wishes to give their beneficiaries maximum
flexibility in the way in which their estate is distributed, it is
not uncommon to see the whole estate, or at least an amount
equivalent to the nil-rate band, left on relevant property trusts.
Where the trustees subsequently make an appointment of the trust
property, IHTA84/S144 operates in a similar way to IHTA84/S142 and
applies the IHTA as if the will had provided that the on the
testator's death, the property had passed according to the
appointment.
A power of appointment under a will is vested in the
executors/trustees as from the death, and is exercisable over all
residue, whether ascertained or not, unless, as a matter of
construction, the will clearly demonstrates a contrary
intention.
