A right to use property or receive income for life, with the capital passing to someone else afterwards.
In Islamic law
Scholars examine such arrangements carefully, since faraid vests capital shares immediately. Structuring a life interest over a home needs both legal and scholarly input.
In Canadian law
Common where a testator wants a spouse housed for life but the capital preserved for children.
We have not yet researched whether the four Sunni schools differ on this term, so we are not going to tell you either way. Where a specific case turns on it, ask a qualified scholar rather than relying on a general summary.
Canadian legal detail
Treadstone Law, an Ontario firm with a wills and estates practice, covers the Canadian side of this in more depth:
- Trustee duty even handedness income capital ontario
- Ontario intestacy no spouse no children
- Odsp henson trust income vs capital distributions ontario
This is legal information only. For advice on your own circumstances, speak to a lawyer.
Citations & sources
Every factual claim on this page traces to a source below. Details change — check the original source before relying on any figure, fee or legal position. Anything under “further reading” is related material, not a source for what is stated here.
- T3 Trust Guide — Canada Revenue Agency
- Trustee duty even handedness income capital ontario — Treadstone Law
- Ontario intestacy no spouse no children — Treadstone Law
- Odsp henson trust income vs capital distributions ontario — Treadstone Law
- Income vs capital needs dependant support award ontario — Treadstone Law
- Wills & estates practice — Treadstone Law