Q&As

Would a revocable appointment of a real property out of a life interest trust to an individual (absolutely) pre-2006 have created an interest in possession for the appointee?

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Published on LexisPSL on 19/07/2019

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • Would a revocable appointment of a real property out of a life interest trust to an individual (absolutely) pre-2006 have created an interest in possession for the appointee?

Would a revocable appointment of a real property out of a life interest trust to an individual (absolutely) pre-2006 have created an interest in possession for the appointee?

The tax treatment of a revocable appointment out of an interest in possession trust pre-2006 will depend on the precise terms of the original trust document and the appointment itself, as well as the powers relied on by the trustees making the original appointment.

A power of appointment or advancement over settled property may be exercised in such a way that no beneficiary becomes absolutely entitled to the trust assets as against the trustees because those assets are still held in trust as

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