These are a trust that sole intention is to make sure that your family home stays in your family.
The majority of homeowners own their homes as Joint Tenants which means you both own All
of your home.
Which in traditional sole marriage and 2.4 kids isn’t an issue whilst you are both fit and well.
When the joint owner dies no matter what your Will states it CAN only go to its joint owner in its
Its after this event that things can change quite dramatically in terms of your children
If your spouse remarries then dies before their new spouse then your house passes to them,
meaning everything you worked for to leave to your loved ones will only benefit strangers
you may have never met
The problems that can often come in later in life such as either or both of you needing care.
This means as your home is treated as both your asset in full it can be used to fund your care
down to the current threshold of £23250. This is a very small pot compared to the value of an
average house in todays market.
If you are a blended family each with children from previous relationships and there are
many now that are and buy your new home jointly that’s causes a more difficult situation.
What happens is that after the first one dies the survivor is the sole owner of your home, if
they change their Will (many do!) or die without a Will then the only children that will inherit
are the Survivors with no recompense in law for the deceased children
If this is a potential or current issue for your family then you need to look at how easy this simple
solution is. It provides that certainty that your children will receive what you wish for them to
A Protective Property Trust as the name suggests protects ALL the family members the surviving spouse has the security of the family home and the children that they will inherit from each parent.
If one of you is in a difficult situation whether that be that your family is suffering with a spouse with Dementia or a victim of abuse these can still be done so whilst you are both alive this is a very cost effective solution to what can be a life changing situation
- Ash, Wybunbury
- Calico, Nantwich
- Louise, Wybunbury
- Rachel, Crewe