Many customers ask Town & Country Law’s experts, “Do I need to put my home in a Trust?”
LIFE can change in ways that we seldom expect. And this is especially the case after we’ve passed away.
Our partners may remarry and form new family units. They may fall ill and require costly residential care. They could encounter financial difficulties, of their own making or not.
It is too difficult to imagine how things will develop once we’ve died. And it’s natural to want to protect our hard-earned assets against unforeseen circumstances like these.
This often leads our customers to ask us, “Can I protect my property by placing it in a trust?” or simply, “Is a protective property trust a good idea?”
Town & Country Law offers legal ways to guarantee that your chosen beneficiaries inherit your part of an estate and don’t lose out financially to the unpredictability of life.
Our specialists can construct Protective Property Trusts that ensure your fair share of the value of your home, or homes, is separated and preserved for them.
We write Protective Property Trusts into Wills so your portion of a property’s value is safeguarded from future wealth assessments for care home fees. Or from strangers in another family that your partner may join after you’ve died.
These legal protections, ensure your children or whomever else you choose are sure to receive your life’s material legacy, whatever life has in store for your partner once you’re gone.
It isn’t uncommon for our customers not to know about PPTs and ask us, “What is a Protective Property Trust?”
PPTs are legal structures included in a Will. Part of advanced Will writing, Property Protection Trusts are detailed legal arrangements designed to protect your share of a property from potential future assessments for medical and care fees. PPTs also protect your wealth from members of a family that your successor may go on to join.
Protective Property Trusts ring-fence part of your home or homes’ from these types of unseen eventuality after your death. They give guarantee that your share of your property will reach the beneficiaries you choose, regardless of such future circumstances.
Town & Country Law’s PPTs are constructed by qualified solicitors who are experienced in ensuring you bequeath your part of your home to the people you wish to receive it.
When Town & Country Law’s experts discuss legacy management with customers, many are asked, “Why do I need a Property Trust?”
Protective Property Trusts allow you to be flexible with your share of a property so your successors are guaranteed to gain from your estate.
If you die without placing your share of your property into a trust, life can dictate that it falls into the hands of strangers. This means those that you wished to inherit your wealth could never benefit from it.
The best way to guarantee this does not happen is to place your share of your property into a Protective Property Trust, sometimes also known as a Property Protection Trust.
If your surviving partner requires medical or residential care, the home you hoped to bequeath to children for their futures can be deemed an accruable asset by wealth assessors. It can be swallowed up by fees needed for that care.
If your partner goes on to fall into debt or encounter other financial difficulty, your property can be valued as collateral to resolve those money troubles.
If your survivor remarries but is outlasted by their next partner your home may fall into the hands of strangers. The inheritance your partner received from you can easily become an inheritance for a person you’ve never met.
In each of these cases the wealth that you worked for during your life may never reach the loved ones you presumed it would reach.
Town & Country Law uses Protective Property Trusts to ring-fence your share of a home and remove these risks to your family’s future.
Our Protective Property Trusts guarantee that your share of a home goes to the beneficiaries you wish to receive it, however life transpires after your death.
Whatever you wish to call them, Protective Property Trusts or Property Protection Trusts, PPTs are legal arrangements for couples who co-own their home or homes.
The details of a Protective Property Trust are written into your Last Will and Testament, and likely your partner’s too.
PPTs take effect upon the first death within your relationship.
The deceased’s share of a home is passed to your appointed Trustees, named in the Protective Property Trust. Those trustees then place that property share into the Trust for its chosen beneficiaries.
Your appointed Trustees are further responsible for balancing the financial and medical needs of your surviving partner against the needs of your nominated beneficiaries – those who will inherit when the Trust is wound up.
Their powers, decided according to your wishes expressed in your Will, may include the transfer of the PPT to a new property bought by your partner after your death.
Your surviving partner is allowed to reside in whichever property, as if they were the sole owner, until their death, remarriage or decision to co-habit with a significant other.
In each of these cases the Trust is wound up and your share of the property passes to your chosen beneficiaries.
Town & Country Law’s PPTs are prepared within your Will by qualified solicitors who are vastly experienced in dealing with such legal frameworks.
Town & Country Law offers highly secure Protective Property Trusts, so you know your share of a property will reach the right people and be used for the right ends.
Your Town & Country Law Protective Property Trust will:
Protective Property Trusts are included in Trust Wills written by experienced solicitors working for Town & Country Law.
Their expertise in Trust and Tax matters ensure your share of the value of a property is used for the reasons that you specify, and reaches the people you want.
We hope the sections in this article answer the questions that our clients like to ask our experts. Questions like, “What is a Protective Property Trust? How does a Protective Property Trust work? and “What is included in a Protective Property Trust?”
Having a PPT in your Will protects your loved ones from losing their share of a home when illness, financial problems or new relationships emerge in your surviving partner’s life.
Arranging a Protective Property Trust constitutes a decisive move towards ensuring your loved ones are guaranteed the inheritance you intend for them.
Including a Protective Property Trust in your Will is a critical element of good legacy planning. It is the only legal guarantee you have that your wishes around your property are fulfilled after you’re gone.
A Town & Country Law PPT also gives you the additional comfort you seek that all of your end-of-life arrangements are perfectly in order.
A Town & Country Law Protective Property Trust is your way to ensure that your children, or chosen beneficiaries, receive the inheritance you have ear-marked for them.
To find out more about a Town & Country Law’s Protective Property Trusts contact Town & Country Law today for a friendly discussion about your wishes. Call 01522 282600
Alternatively, one of our team can visit you in the comfort of your own home, should you prefer. Sometimes, it’s easier to plan these things in the property you wish to leave to others.
Town & Country Law ensures all of your estate is examined by highly experienced professionals who listen to your wishes and advise on your assets.
When you reach your conclusion that, “I want to put my home in a Protective Property Trust,” then Town & Country Law ensures you have a Trust Will written by a fully qualified solicitor.
This is how Town & Country Law guarantees your legacy is left legally to your carefully selected beneficiaries.
Contact Town & Country Law on 01522 282600 to get started on your PPT.
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