Life interest

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The Law of Wills, Trusts and Inheritance
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Generic Terms:
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Common Types of Trust:
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Accumulation and Maintenance trust
Interest in Possession trust
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Other Specific Types of Trust:
Protective trust  · Spendthrift trust
Life insurance trust  · Remainder trust
Life interest trust  · Reversionary interest trust
Honorary trust  · Asset-protection trust
Special needs trust: (general)/(U.S.)
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Pour-over will  · Cy pres doctrine
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Living Wills (advance directives)
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A life interest (or life rent in Scotland) is some form of right under a trust which lasts only for the lifetime of the person benefitting from that right. A person with a life interest is known as a life tenant.

A life interest ends when the life tenant dies.

An interest in possession trust is the most common example of a life interest trust. In a typical interest in possession trust, the life tenant receives all the income from the trust for the rest of his or her life. On the life tenant's death, the trust comes to an end and the capital of the trust is paid to another person, known as the remainderman, as specified by the trust document.

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