The person who receives capital after a life interest ends.
In Islamic law
Deferring an heir's capital share raises the same questions as a life interest.
In Canadian law
Holds a future interest that vests on the death of the life tenant.
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:
- Life interest beneficiary death trust tax year end
- Life insurance capital dividend account shareholder death ontario
- Cottage capital gains tax death 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
- Life interest beneficiary death trust tax year end — Treadstone Law
- Life insurance capital dividend account shareholder death ontario — Treadstone Law
- Cottage capital gains tax death ontario — Treadstone Law
- Wills & estates practice — Treadstone Law