The trustees exercise the discretionary powers of accumulation
and appointment for the trust. They do not own the property
themselves. (
IHTM16050)
They are accountable for delivery of an account for
chargeable events on the trust. (
IHTM10836)
The trustees are liable for payment of inheritance tax on the
trust. (
IHTM30091)
(The initial transfer of property into the trust is primarily
the responsibility of the settlor.
IHTM42251)
