Bank Account set up as trustee account for grandchild

[Albertina1]

I have been pondering.
There is a bank account that is set up in grandmother's name but the account is "as trustee" for a grandchild. What happens to the money in the account on grandmother's death? Is it accounted for in the estate total (for inheritance tax and distributed according to the will) or can the whole sum be paid straight to the grandchild and so excluded from the estate?

If it is held in trust then it does not form part of her estate for IHT purposes or otherwise.