PROTECTIVE PROPERTY TRUST.
Town & Country Law offer a variety of Will Trusts. These are:
- Property Will Trusts
- Life Interest Trusts
- Disabled Persons Trust
- 18-25 Trust
There are a variety of reasons that Clients would choose to include a Will Trust in their estate planning.
All Will Trusts have one thing in common: they start working when you die, and not before. They can be a great tool for ensuring gifts and legacies to people under the age of 18 receive money at the right time, when they are mature enough to receive it; to make sure that your children (or other loved ones) do not miss out on an inheritance through further marriages etcetera (often referred to as sideways disinheritance); and to separate your estate appropriately with a view to planning for the possibility of care fees in the future.
We recognise that no two clients are the same, and that they will have different needs. We will advise you as to options and choices that you have in relation to planning your estate, very much dependent upon what makes up your estate, and what your aims are.
Of course, with Town & Country Law there is never any obligation on you to do anything, but we think that it’s sensible to look at your options, and make an informed decision.
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Protective Property Trust
The Town & Country Law Protective Property Trust has the following features:
- Allows you to pass your Property to your chosen beneficiaries
- Allows you to nominate your chosen Executor to handle the Property on your behalf
- Can be used as a tool for planning for care home fees
- Includes severance of joint tenancy at the Land Registry and re-issuing as Tenants in Common
- Each Spouse now owns 50% of the Property
- Each Spouse grants the surviving Spouse a ‘Right to Reside’
- Flexibility to move home as you choose
- Each Spouse can gift their 50% as they see fit. Both halves of the Property do not have to go to the same beneficiaries
- Useful for people who are divorced and in further relationships
- Can be used to prevent assets being lost to your children
- In certain circumstances, a Unilateral Deed of Severance may be necessary: your
- Paralegal will give you the appropriate advice on this
- Includes your new Wills
- Tenancy in common is established straight away, trust establishes at first death