Q&As

Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?

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Produced in partnership with Lynne Counsell of 9 Stone Buildings
Published on LexisPSL on 13/09/2019

The following Private Client Q&A produced in partnership with Lynne Counsell of 9 Stone Buildings provides comprehensive and up to date legal information covering:

  • Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?
  • Life tenants
  • Termination of a life interest
  • Summary

Life tenants

A life interest trust arising under a Will is termed ‘an immediate post death interest’. The trust gives the life tenant the right to receive the income from the trust property. If the trust assets consist of cash and/or shares, this will be the dividends and shares from those assets. If the trust comprises residential property, the life interest trust will enable the life tenant to reside in the property or receive the rental income if it is let. See Practice Notes: Creation of trusts—life interest trusts and Termination of trusts—methods of termination.

After the death of the life tenant (or other event as outlined below), the Will names the remainder beneficiaries and what is to happen to the capital of the trust. The Will might confer a power of appointment/advancement on the trustees whereby they can advance capital to the beneficiaries (and thereby possibly terminate the t

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