Know your Trusts: Interest in Possession Trusts

Our next clip on exploring different types of trusts, Richard Dundee, Partner in our Private Client team focuses on interest in possession trusts (also known as life interest trusts). An interest in possession trust is a type of trust where a beneficiary has the right to receive income generated from the trust’s assets for a period of time, often for life, but does not own the assets themselves. This clip will help you to gain an understanding of how interest in possession trusts are commonly used in estate planning, wealth management, and providing for loved ones while maintaining control over assets. Disclaimer: This podcast contains material for general information purposes only and does not constitute legal or other professional advice. Every effort is made to ensure that the content is accurate and up to date but users should always seek specific legal advice before taking, or refraining from, an action or relying on the legal information given here. Although Wright Hassall can assist with a number of legal matters, individuals should visit the firm's website or make direct contact to confirm whether the legal advice or service required is provided.