Property Protection Trust
Protect your home’s value
A Property Protection Trust is an affordable way to help protect your clients and the value of their home
A Property Protection Trust gives you complete peace of mind. You can specify who is to inherit your share of the home and if the surviving partner needs care, their share may not be taken to fund care costs.
How it Works?
- The Property Protection Trust is set into the Wills of both homeowners.
- If owned as Joint tenants, this needs to be changed into Tenants in Common so both parties own their own share
- The deceased’s share of the property is passed to their beneficiaries , in accordance with their Will, upon the death of the surviving partner.
- Should the surviving partner re-marry, the deceased’s share cannot be passed to another family
- When the first homeowner dies, their share of the property is passed into the Trust, protecting it for their beneficiaries.
- The deceased ‘s share of the property may not be used to pay for the care of the surviving partner.
- The surviving partner can live in the property for as long as they wish, or downsize and buy another property to live in