Do you want your home and assets to go to your children and other loved ones? Have you ever worried about what might happen to your home, savings and investments, if you ever had to go into residential care as you get older and your health deteriorates?
Most people own a property in joint names (joint tenants) and when the first one dies, the survivor becomes the sole owner. This makes the inheritance down the bloodline vulnerable if, for example, the remaining spouse remarries. If they don’t make a new Will to replace the old one, that became null and void upon the new marriage, then they would die intestate (no Will) and their new spouse could inherit everything. Leaving nothing for their children, commonly known as Sideways Disinheritance.
Even if they never re-married, but had to go into full time residential care later in life, the house may need to be sold to pay their care fees, leaving little left over for the beneficiaries.
Benefits of a Property Protective Trust Will
- Determines who benefits from your share of the property if your surviving partner;
- Remarries after you die and makes no new Will.
- Writes a new Will after your death, changing the beneficiaries.
- Deceased’s share of the property may not be used to pay for the care of the surviving partner.
Who can benefit from a Property Trust Will?
Anyone who owns property with someone else, whether married, unmarried or in a civil partnership and wants to protect their share of the property, for specific loved ones in the future.
Please Bear In Mind;
The Property Trust can only be created whilst both partners remain alive and are both of sound mind and retain full mental capacity.