IHTM20152 - Policy settled on its own trusts:
Conditions required for policy to be comprised in a settlement
A policy is comprised in a settlement if
- a beneficiary is given a life interest (
IHTM16061), or
- it is held for a person absolutely subject
to defeasance, for example
- by failure to survive to a given date, or
- by failure to survive to a given event, or
- by the exercise of a special power of
appointment
- it is held for persons contingently (
IHTM16066), for example
“for such of the children of X as survive X”.
See examples at
IHTM20154 (England, Wales and Northern
Ireland) and
IHTM20155 (Scotland).
