Part 9Special rules about settlements and trustees
Chapter 2General provision about settlements and trustees
Settlors
468Meaning of “disposable property”
1
This section applies for the purposes of section 467(4)(b)(i).
2
Property is disposable if S could have disposed of it by S’s will.
3
In working out whether any property could have been so disposed of—
a
make the assumptions mentioned in subsection (4), and
b
ignore the powers mentioned in subsection (5).
4
Assume that—
a
S is of full age and capacity,
b
the property is situated in England and Wales, and
c
if S is not domiciled in the United Kingdom, S is domiciled in England and Wales.
5
The powers to be ignored are—
a
any power of appointment giving S the right to dispose of the property, and
b
any testamentary power conferred by statute to dispose of entailed interests.