What is a Property Protection Trust?
Whitebrook Wills - Friday, February 06, 2015
If you want to protect your home from being sold to fund care home fees or from being inherited by specific individuals, then a property protection trust (otherwise known as a "protective property trust) is the perfect answer.
Families aren't what they used to be. Where once, divorces were rare and extended families all tended to live locally, this structure has now changed forever. Children and grandchildren move away or even emigrate, relationships can become strained and many couples split up and remarry – sometimes several times. This means that the family unit becomes dynamic, introducing new individuals – both adults and children, who could potentially benefit from an inheritance, thanks to you.
If you'd rather dictate specifically to whom you want to leave your share of the family home after your death, then by placing it into a property protection trust, you can do precisely that, whilst still allowing your civil partner or spouse to live in it during their lifetime.
Property protection trusts are the ideal way to control the management of your most valuable asset and help to ensure that those who you want to benefit from it after you've gone, will do so.
For more information on property protection trusts contact Whitebrook for more details.
