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Scottish Provident Trust Forms

Scottish Provident Trust Forms

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Instructions and help about Scottish Provident Trust Forms

hello I'm the agrifice and I'm a solicitor in the Private Client team at Harrison Clark Ricca base a life interest trust is a trust that holds an asset for the benefit of a beneficiary known as a life tenant when a life tenant dies that asset then goes to your ultimate beneficiary what assets go into the trust is completely up to you for example a life interest risk can hold property or liquid assets if the life interest trust were to include a property your life tenant can live in the property for their lifetime alternatively if the life interest risks were to include liquid assets then your life tenant would benefit from the income of the life interest a life interest test would form part of your will and would be included like a legacy of a gift would be included however the main difference being that your life tenant wouldn't receive the gift outright they would only have the interest for their lifetime the advantage of having a life interest trust in your w

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