No because we cannot get back the registration fee paid to the Registry. Also considerable time goes into establishing a Trust because we have to ensure that all information and documents provided are correct and complete. We will also not be able to sell the “registration” to someone else because trusts are unique to each settlor and selling “shelf Trusts” is not a recommended practice.
We will in fact have to notify the Registry that the Trust does not exist by virtue of establishment procedures being incomplete and that the settlor has no intention to complete Trust establishment. This will result in extra work for which we can only be compensated by payment already received.
Note that we can avoid this situation by requesting for a small initial settlement before we register the name of a Trust.