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Working together
Key points
- In Hall the tribunal decided an occupying beneficiary had not enjoyed an interest in possession.
- When drafting wills it is important to consider the future administration of the estate.
- The potential impact of inheritance tax should be considered.
A recent decision in the First-tier Tribunal N Hall and another (as trustees of Carolina Raboni deceased) (TC8691) concerned whether an interest in possession arose in a ‘cash poor’ estate where a ‘companion’ occupied the house after the widow left her house to her five nieces and nephews. The deceased had granted her friend and companion the right to live in the house rent-free other than insurance and maintenance costs for the rest of his life. The property was not to be sold without his consent. The companion moved into the house after she died in 2004. It could be argued that with the value of the family home having...
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