Life Interest (IPDI)

An Immediate Post Death Interest; in some cases, maybe a complex family situation where each party wishes their respective children to inherit; the spouse has adequate assets of their own; or the testator simply does not want to gift his share over then a life interest in the residuary estate may be useful. The clients’ need to be aware of the consequences of such an action and must state whether the life tenant can receive income only or income and capital. Includes one mutual severance at no additional cost.