Hi there,
Looking for some clarification around the rights of guardian’s to remain in the family home (e.g. an unmarried ex-spouse or another guardian) until the children turn 25 under a bereaved minor trust.
Aware that leaving a formal right could be seen as an IIP and therefore remove the ability to use the RNRB, but not sure if a guardian/trustee would be entitled to some sort of right provided it’s in the children’s best interests.
Any links to where this is formally written welcome.
TIA.
I can’t imagine there is any right as such but the trustees could certainly allow them to occupy under licence while in occupation with the children.
I did wonder if you meant an 18-25 trust as a bereaved minor trust has to vest absolutely at 18 (at which point the children can decide).
If you want to be able to lock in the guardian’s right of occupation beyond the children becoming absolutely entitled, I could see that being difficult.
I did worry that, because involving an IIP is not going to allow the children to benefit from the NRB or RNRB as RNRB will be lost and NRB will be used on no-spouse/non-descendent life tenant.
Yes, sorry, meant 18-25 trust set up by parent.
Hi Andrew,
I did worry that, because involving an IIP is not going to allow the children to benefit from the NRB or RNRB as RNRB will be lost and NRB will be used on no-spouse/non-descendent life tenant.
Yes, sorry, meant 18-25 trust set up by parent.