Commentary

I5.162 Annuities and general legacies as IIPs

IHT, trusts and estates

I5.162 Annuities and general legacies as IIPs

I5.162 Annuities and general legacies as IIPs

The unadministered estate for the purposes of the provisions detailed at I5.1611 is the property in the estate, excluding specific legacies and making 'due allowance' for 'charges on residue'2.

'Charges on residue' here include general legacies and interest on them, and annuities3. General legacies are those whose subject matter is not distinguishable from the rest of the estate. These are typically cash legacies (pecuniary legacies) — '£1,000 to my friend James'. For further information see Williams on Wills (10th edn) para 30.5.

Where the deeming provisions apply an annuity will be treated as commencing

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