What is a life interest trust?
Quick answer
A life interest trust gives one person (the ‘life tenant’) the right to income from, or use of, an asset for their lifetime — for example to live in a home or receive investment income — while the capital passes to other beneficiaries afterwards. It's widely used in second marriages to provide for a surviving spouse while protecting children's eventual inheritance.
Detailed explanation
It splits an asset across time: use now for one person, ownership later for others.
- The life tenant benefits during their life (income or occupation).
- The remaindermen receive the capital when the life interest ends.
- Common for the family home in blended families.
Example scenario
Frank's will gives his second wife a life interest in his investment portfolio: she receives the income for the rest of her life, and on her death the capital passes to Frank's children from his first marriage.
What happens next?
- Complete the questionnaireA few guided questions about you, your family and your wishes.
- Human reviewYour answers are checked by the ClearLegacy editorial team for completeness.
- Receive your documentsYour will and supporting paperwork are produced, ready to print.
- Sign correctlyClear instructions on signing and witnessing so the will is legally valid.
- Protect your familyYour wishes are recorded and your loved ones are spared the intestacy default.
Sources
- GOV.UK — Trusts and taxes
- GOV.UK — Types of trust
- Trustee Act 2000 — legislation.gov.uk
- Reviewed by
- ClearLegacy editorial team
- Last reviewed
- June 2026
- Next review
- December 2026
- Jurisdiction
- England & Wales
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