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  2. Life interest - Wikipedia

    en.wikipedia.org/wiki/Life_interest

    A life interest ends when the life tenant dies. An interest in possession trust is the most common example of a life interest trust. In a typical interest in possession trust, the life tenant receives all the income from the trust for the rest of his or her life. On the life tenant's death, the trust comes to an end, and the capital of the ...

  3. Rule against perpetuities - Wikipedia

    en.wikipedia.org/wiki/Rule_against_perpetuities

    The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.

  4. Interest in possession trust - Wikipedia

    en.wikipedia.org/wiki/Interest_in_possession_trust

    Such a life interest trust is the most common example of an interest in possession trust. In the United Kingdom, the 10-yearly inheritance tax charge may be payable on assets transferred into this type of trust on or after 22 March 2006. [2] In the example of a life interest trust, the interest in possession ends when the income beneficiary dies.

  5. Life estate - Wikipedia

    en.wikipedia.org/wiki/Life_estate

    Charlie's life interest or pur autre vie interest (interest for the life of another, whichever has applied) and most often the remaining rights of ownership in the property (the 'reversionary interest') devolve to the persons under the terms of the will/rules of intestacy/declaration of trust/trust deed (UK) or will/rules of intestacy/'grant or ...

  6. Administration (probate law) - Wikipedia

    en.wikipedia.org/wiki/Administration_(probate_law)

    Other examples include discretionary death benefits from pension funds, accounts with certain financial institutions subject to a nomination and the proceeds of life insurance policies which have been written into trust. Trust property will also frequently fall outside the estate but will depend on the terms of the trust.

  7. Power of appointment - Wikipedia

    en.wikipedia.org/wiki/Power_of_appointment

    It is a trust that qualifies for the marital deduction, provided that the surviving spouse is given the income at least annually and the surviving spouse has a general power of appointment over the trust property remaining at his death. Most general powers of appointment are exercisable under a will. The holder of the power refers to the ...

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