Part 19-3-1 Nominees, bare trustees and agents (S-567) 1.1 Interests in trusts are assets, but the extreme difficulty of valuing “wasting” interests (e.g. life interests) expanding interests (e.g. reversionary interests), interests in succession, contingent interests and discretionary interests, and the possibility that by the creation of trusts some liabilities might be deferred render the application of the general rules […]

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