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Secure Your Home and Assets with a Property Protection Trust from Direct Wills Trusts
Your home is likely your most valuable asset, and protecting it for the future is essential for a surviving spouse. At Direct Wills Trusts Gloucestershire, we help you safeguard your property with a Property Protection Trust and Family Trust—a powerful tool designed to protect your home and other assets from being eroded by costs such as long-term care fees or inheritance tax. For more information, download our free factsheets on property protection.
A Property Protection Trust Gloucestershire is a legal arrangement that allows you to protect your home and other assets by placing them into a trust. This means that while you still live in your property and have control over it, the ownership, including your share of the property, is held by the trust. This can also include power of attorney benefits, shielding your home and the will writing process from being included in assessments for care fees or from certain inheritance tax liabilities.
Key Features of a Property Protection Trust Gloucestershire:
Setting up a Property Protection Trust, often referred to in discussions about discretionary trusts and the type of trust known as asset protection trusts, is a proactive way to protect the assets you’ve worked hard for. If you’re concerned that your estate could be depleted by care home fees, or you want to make sure your home passes directly to your beneficiaries without risk, a Property Protection Trust can provide security.
Here’s why a Property Protection Trust might be right for you:
At Direct Wills Trusts Gloucestershire, we believe that planning for the future should be simple, affordable, and tailored to your needs. Our experienced legal team will guide you through every step of setting up a Property Protection Trust, ensuring your assets are protected for generations to come.
Our knowledgeable team specializes in estate planning and trusts, providing you with clear, expert advice.
We’ll take the time to understand your unique circumstances and tailor the trust to suit your needs and protect your assets.
We make the process straightforward and easy to understand, with no hidden fees or confusing jargon.
With our ongoing support, we ensure that your Property Protection Trust remains compliant and effective as your needs evolve.
To put your property (home) in a property protection trust you both (you and your partner) need to own it. Changes in ownership are then made so that each of you owns half of the home.
Both of you then indicate in a special Last Will that after the death
of either of you the remaining partner has a right to reside in both halves of the home until they too die.
Upon the first death, a special Protective Property Trust takes over the half belonging to the deceased. However, as the Last Will stipulates, the remaining partner/spouse continues living in the whole home until they too die.
We start by understanding your property and estate planning needs during an initial consultation. This allows us to determine the best way to protect your assets.
We draft the Property Protection Trust and transfer the ownership of your home (or other assets) to the trust. However, you retain full control and can live in or manage your property as before.
You continue to live in your home and maintain your rights over it while the trust holds ownership. Your beneficiaries are named in the trust and will inherit the property as per your wishes.
If you need long-term care in the future, your home will typically not be included in financial assessments, preventing it from being sold to cover care fees.
Don’t leave the future of your estate to chance. With a Property Protection Trust from Direct Wills Trusts, you can take control of your assets, protect your home, and ensure your loved ones are provided for after you’re gone.
Contact us today Gloucestershire for a free consultation!
Our team of experts is ready to help you secure your property and provide peace of mind for you and your family.