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A Life Interest Trust gives a beneficiary the right to income only from assets held in trust for their life time. This Beneficiary is commonly known as the Life Tenant. The Life Tenant does not receive any of the capital from the Trust. The very purpose of a life interest trust is often to ensure that the capital is preserved for a separate intended Beneficiary or Beneficiaries after the death of the Life Tenant.
Life Interest Trusts are commonly used:-
You can be more detailed in how you would like the trust to work, for example:
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