Putting your home in a Probate Property Trust
Probate Property Trusts can be an excellent way of protecting the value of your home in a trust so that future generations can benefit from all your years of saving and hard work. They are available as part of The Family Bank to home owners and others, married or single. There less effective but cheaper cousin to a full Probate Property Trust: the (mostly less effective but cheaper) Protective Property Trust Wills are generally only suitable for to couples. Enquire or ring 01323 741203.
Probate Property Trusts can have all sorts of potential benefits:
Very substantial protection can be built into a Probate Property Trust for your spouse/ partner / other dependents.
1. Dramatically reduced delays in passing the trust benefits on when you die – in fact, the proceeds of a Probate Property Trust could be passed over to your chosen beneficiaries within days of your death – assuming that is what you and they wish. Better than having to wait between 3 and 9 months, sometimes longer. Assets outside the trust will take longer to deal with, but it is often better not to over complicate what goes into a probate trust.
2. Massive savings on Probate costs. Possibly well over £10,000 as Probate Property Trusts are technically not part of your estate except for Inheritance Tax: they do still need to be taken into account however .
3. Probate Property Trusts may prevent claims under the Inheritance Act from people you may not wish to inherit from you or enable some measure of control over who should inherit, when and under what conditions – you can leave detailed instructions to the Trustees you have chosen, or you can even appoint us as professional trustees to ensure that your instructions are followed to the letter.
4. A Probate Property Trust must never be set up with the intention of avoiding Care Fees (and we think many such trusts will be unscrambled by the Courts as it is obvious that the trust was deliberately set up to keep at least your home out of the clutches of the Local Council. We don’t set up trusts for this purpose, but it can be a useful way for you and your family still retain control of the assets so they can still be used to top up your Care Fees if that will help you have a better quality of life.
5. Probate Property Trusts have benefits at any time, though they probably won’t provide any protection against the Local Authority if you are likely to need long term care. But the other benefits of a Probate Property Trust will make that irrelevant for most people.
Free Guide to Probate Property Trusts.
If you would like a copy of our FREE Guide to Asset Protection and Probate Property Trusts, tell us a little about your situation and we’ll happily send you the information. Include your phone number if you would like a chat – you don’t need to give us your address, we don’t have a “sales team”! We will follow up, but you can simply unsubscribe at any time. And we will never pass on your contact details.
Enquire – not everyone is appropriate for this sort of trusts, so let us see if it is right for your family.