I have surviving spouse who owns half of home outright and other half is in FLIT from spouse’s will. Spouse also left other assets including cash assets in FLIT for spouse for life.
Trustees intend to loan the cash assets to surviving spouse for life, no repayment until death and no interest. I recall going on a course years ago where advise was given that such a charge has to contain some very specific terms. I have lost my course notes and cannot remember what those terms are or why they are required. If anyone can enlighten me I would be much obliged.