Commentary

I4.121 Excluded property and interests in or rights over settled property

IHT, trusts and estates

I4.121 Excluded property and interests in or rights over settled property

Property left out of account

I4.121 Excluded property and interests in or rights over settled property

The estate of a person immediately before his death does not include excluded property1. For the nature of excluded property see I5.701–I5.728 (reversionary interests) and I9.311 (foreign property).

For the purposes of succession, excluded property is part of a person's estate. Under the IHT rules for lifetime transfers no account is taken of the value of excluded property which ceases to form part of a person's estate as a result of a disposition2 (see I3.217). The result of this provision is that a

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