Need to brush up on your legal terminology? Here we have created a full glossary of the legal terms you’re likely to come across during the process of working with us.
There are currently 8 legal terms in this directory beginning with the letter L.
Lasting Power of Attorney (LPA)
The type of Power of Attorney that has been in use since October 2007.
Life interest trust
A trust that gives an individual the right to inherit the use of income of an asset, but only while they are alive. This means they never own the asset and can't benefit from the sale of it, give it away or leave it to someone in their own Will.
Life sustaining treatment
Any treatment that will keep someone alive, without which they might die. This could be anything from a course of antibiotics to tube-feeding or a ventilator.
Life tenant
Someone who is the beneficiary of a property (though the term can sometimes apply to other types of asset), but only whilst they are alive. This means they can live in the property, but can't sell it, give it away or leave it to someone in their own Will.
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