Life interest trusts, sometimes referred to as occupation interest trusts or vesting trusts, are legal arrangements under which a trustee holds an asset, such as property or investments, on behalf of a beneficiary, but subject to certain restrictions or conditions. These conditions typically specify when the beneficiary will gain access to the asset, such as upon
reaching a certain age, completing an education, or fulfilling other specified objectives. The trustee has a duty to manage and invest the assets in the best interests of the beneficiary until the time when they gain access to the asset.
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