Is it possible to give a life interest to a person whilst also giving the remainderman a right of occupation?
Would that not be a case of both having a lifetime interest with one being a remaindermen?
Without further information it’s hard to say how this would work, but would there be an inheritance tax issue for example. A lifetime interest for a wife or husband benefits from the TNRB and even TRNRB but a child would not, so it might not be advisable to leave a lifetime interest to a child unless inheritance tax has been considered.
It’s clear when a lifetime interest comes to an end, ie: death, but what happens if the remaindermen die first? Who become the remaindermen then?
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