Commentary

I5.111 Definition of 'settlement' for IHT purposes

IHT, trusts and estates

I5.111 Definition of 'settlement' for IHT purposes

I5.111 Definition of 'settlement' for IHT purposes

A settlement is defined as any disposition of property such that the property is held in trust:

  1.  

    (a)     for persons in succession (I5.112)1

  2.  

    (b)     for any person subject to a contingency (I5.113)2

  3.  

    (c)     as an accumulation trust (I5.114)3

  4.  

    (d)     for the payment of an annuity or such other similar periodical payment (I5.115)4, or

  5.  

    (e)     as a lease of property for a life or lives, or for a period ascertainable only by reference to a death (I5.116)5

A settlement created by Will is clearly included within the above definition, as is one which arises by

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