Life interest trust


#1

I commonly encounter clients who are entering into a second relationship or marriage who own two homes and are looking to sell the individual homes and then purchase a new home together. If they wish to then give one another a life interest in their share of the new property (ultimately held as tenants in common) would members refer to any home held as their residence held as tenants in common when defining the life interest trust ?

Collette Hodkinson

CPH Solicitors


(Simon James Northcott) #2

I have seen this type of wording go wrong in Wills too many times. Therefore I always opt for a life interest in residue with power to advance.

Simon Northcott