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  2. Life interest - Wikipedia

    en.wikipedia.org/wiki/Life_interest

    A life interest [1] (or life rent in Scotland) is a form of right, usually under a trust, that lasts only for the lifetime of the person benefiting from that right. A person with a life interest is known as a life tenant. A life interest ends when the life tenant dies. An interest in possession trust is the most common example of a life ...

  3. Life estate - Wikipedia

    en.wikipedia.org/wiki/Life_estate

    The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.

  4. United States trust law - Wikipedia

    en.wikipedia.org/wiki/United_States_trust_law

    The document calls for the smallest legal interest rate (published monthly by the Federal Government), which is then paid through the term of the trust. Upon the termination of the trust, the annuity has been paid back to the grantor and the remaining corpus is delivered to the remaindermen (typically children) without tax.

  5. Ademption by satisfaction - Wikipedia

    en.wikipedia.org/wiki/Ademption_by_satisfaction

    Ademption by satisfaction, also known as satisfaction of legacies, is a common law doctrine that determines the disposition of property under a will when the testator has made lifetime gifts to beneficiaries named in the will.

  6. Power of appointment - Wikipedia

    en.wikipedia.org/wiki/Power_of_appointment

    Wording such as "to B for life, and upon B's death to those that B shall appoint" indicates a power presently exercisable, not a testamentary power. In some jurisdictions, the donee's creditors cannot reach the appointive property when the donee has a presently exercisable power of appointment as long as the power is unexercised.

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