Clause—gift of property on life interest trust


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Private Client expert
Precedents

Clause—gift of property on life interest trust


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Private Client expert

Precedents
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    1. 1

      Gift of property

      1. 1.1

        I give free of tax my property known as [full address and description of the property] or such other property which I may own as my main residence at the date of my death (the Property) together with all furniture, soft furnishings and articles of domestic, household or garden use or ornament in or about the Property (the Contents) to my Trustees on the following trusts.

      1. 1.2

        In this clause the Property Fund shall mean the Property and the Contents and all property from time to time representing the same.

      1. 1.3

        My Trustees shall hold the Property Fund for [full name of Life tenant] of [address of life tenant] (the Life Tenant) for life and after

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Jurisdiction(s):
United Kingdom
Key definition:
Life interest definition
What does Life interest mean?

An entitlement to trust income or to the use of trust assets, but not the capital. Also called an possession'>interest in possession.

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