Life Interests in property and capital have been used in Wills and estate planning for generations.
A Life Interest entitles the recipient to enjoy the use of the property or the income that the capital generates during their lifetime, and upon their death the asset will then pass to the beneficiary of your choosing.
Life Interests are increasingly popular among people who have remarried. If you are in a second marriage, chances are that you will have children from the first who may not be happy with the idea of everything being left to your new partner.
A Life Interest (particularly in the matrimonial home) is often a convenient way to provide a roof over the head of your spouse or partner and still protect the children’s inheritance in the long term, keeping everybody happy.