Basics Flashcards
1
Q
Vested interest?
A
interest is vested if the beneficiary is known
2
Q
Vested life interest?
A
£100,000 to A for life
3
Q
Vested interest in remainder?
A
£100,000 to A to life, remainder to B
4
Q
What is A entitled to as life tenant?
A
Trustees hold trust fund and A entitled to any interest produced by capital from the creation of the trust to the date of death
5
Q
What is B entitled to as remainder?
A
Future interest, and has interest in capital upon A death.
