| 释义 |
survivorship clause
A provision in a will such that a gift to a person is conditional upon that person surviving the deceased by a specified time period, for example a legacy in a will of “£10,000 to my son James if he survives me by 30 days”. Survivorship clauses should not exceed six months, as that would constitute a transfer into trust with the potential loss of reliefs, notably inter-spouse exemption (Inheritance Tax Act 1984 s 92). |