Where a Will contains a contingent legacy and at death the beneficiary has not reached the contingent age and therefore the funds are invested, where the legacy increases in value during the period from investment to the beneficiary reaching the contingent age, would the payment of the original capital amount plus the increase result in an interest in possession?
The answer will depend upon a number of aspects, not least the actual wording of the legacy as it might not even carry the right to income or capital appreciation.
Paul Saunders FCIB TEP
Independent Trust Consultant
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